Product category:
Intellectual Property Cores
News Release from: LSI Europe
Edited by the Electronicstalk Editorial
Team on 10 July 2006
VeriSilicon acquires LSI's DSP business
LSI Logic Corp has sold the assets of its ZSP digital signal processor unit to VeriSilicon Holdings for approximately $13 million in cash and stock.
LSI Logic Corp has sold the assets of its ZSP digital signal processor unit to VeriSilicon Holdings for approximately $13 million in cash and stock VeriSilicon, a leading ASIC design foundry, provides semiconductor IP and design services to customers worldwide
This article was originally published on Electronicstalk on 23 May 2001 at 8.00am (UK)
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Under terms of an asset purchase agreement, VeriSilicon has acquired certain assets related to ZSP licensable cores, development tools, standard products and software, including the transfer of ownership of associated issued and pending patents.
In addition, a majority of the ZSP unit workforce, including engineers, software developers, marketing, sales and customer service and support representatives have joined VeriSilicon.
Related to the agreement, LSI has licensed the use of select ZSP cores from VeriSilicon, enabling the company to continue to integrate digital signal processing capabilities within current and future product offerings.
In March, 2006, LSI announced the intention to sell its ZSP digital signal processor unit as part of a broader strategy to focus on growth opportunities in the information storage and consumer electronics markets.
The company also announced it would redirect R and D from noncore areas and reduce associated selling, general and administrative expenditures.
The closing of this transaction is consistent with these previously announced plans.
The company does not expect to record a loss associated with the sale of the assets of its ZSP unit.
The transaction, which was completed in the quarter ended 30th June 2006, is not expected to have a material impact on operations going forward.
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