UT Sidakang sold $24 million over chip business company

EST on December 21st (Beijing time December 22nd) news, UT Starcom and storage, communication and consumption chip Solutions Developer Marvell company today officially reached an agreement, Marvell will acquire all of the assets of UT Sidakang chip design business, including UT Sidakang December 2001 acquisition of related assets acquired advanced communication equipment company.

The main business of UT Sidakang chip design department is the development of wireless communications solutions, including 3G wireless application technology and product oriented PHS chip solutions. Marvell president and CEO Saihate - Sutadi Fagafaga (Sehat Sutardja) said: "through this transaction, we have a strong technical team, and will expand to the rapid growth of the market China."

According to the agreement, Marvell will acquire UT Sidakang single chip system for $24 million in cash (System-on-Chip) all the assets of the chip business, the transaction will receive regulatory approval and other conditions to meet the end of six days. In addition, if the UT Sidakang single chip system chip business performance to achieve specific goals, Marvell will pay $16 million. After the completion of the transaction, Marvell will be acquired through the ongoing research and development of the project expenditure as a one-time fee, the amount of this fee has not yet been determined.