Monday, March 16, 2015

Cypress Completes Merger with Spansion

Cypress Semiconductor completed its previously announced merger with Spansion -- an all-stock deal valued at $5 billion.

The combined company, which will be headquartered in San Jose, California and called Cypress Semiconductor, will be a $2 billion global leader in microcontrollers and specialized memories for embedded systems. The original Cypress supplies programmable system-on-chip families for consumer, mobile handsets, computation, data communications, automotive, industrial and military applications. Spansion supplies flash memory, microcontrollers, analog and mixed-signal products used in a range of applications, from automotive electronics and industrial systems to highly interactive consumer devices.

"We closed this merger even more quickly than originally anticipated, accelerating our strategic and financial roadmap," Cypress President and CEO T.J. Rodgers said. "From Day One, the new Cypress will capitalize on its expanded product portfolio and leadership positions in embedded processing and specialized memories to significantly extend its penetration of global markets such as automotive, industrial, consumer, wearable electronics and the Internet of Things."