Atmel for $140 million in cash to sell subsidiaries and Fabs

Atmel Corp. said the day before, in order to cut costs, has signed an agreement to sell its French subsidiary of Grenoble and Fab, e2v technologies PLC is the buyers, price is about $140 million in cash.

Under the agreement, Atmel will retain its patented fingerprint scanning recognition technology rights. All other products of the Grenoble sector, including image sensors and microprocessors that can be used in aviation, will be within the scope of the sale. The transaction is expected to be completed in the third quarter of Atmel.

The move will cut the cost of the troubled Atmel. Atmel investment in excess capacity, resulting in a series of losses. UK e2v is a supplier of electronic tube and sensor components.