Transmeta finds a buyer

Logo TransmetaTransmeta, a company that once hoped to rival Intel and Advanced Micro Devices to power portable computers, announced Monday that it would sell itself to Novafora for $255.6 million in cash.

Novafora said it hopes to use Transmeta's people and technology in its video processing chips.

"Transmeta's innovative technology and the expertise of its employees are valuable additions to Novafora," Novafora CEO Zaki Rakib said in a statement.

For their part, shareholders are expected to receive between $18.70 and $19 for each Transmeta share they own. The deal was unanimously approved by Transmeta's board, but still requires approval of its shareholders. The offer is higher than a $15.50-per-share unsolicited bid received earlier this year.

Separately, Transmeta said it has entered into a non-exclusive patent license agreement with Advanced Micro Devices (AMD). Under the terms of the agreement, AMD will transfer to Transmeta 700,000 shares of Transmeta's Series B Preferred Stock held by AMD. AMD invested $7.5 million in Transmeta last year.

The deal to sell itself puts at an end the company's efforts to figure out what to do with its technology, which was once a top-secret effort to unseat Intel in the low-power PC market.

"We believe the deal is a win for all our stockholders," Transmeta President Les Crudele said in a statement. "We have spent the past several months extensively exploring our strategic options and believe that the agreement with Novafora best serves the interest of our stockholders."

Source: CNET

Tags: AMD, Intel

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Last news

 
Consumer group recommends iPhone 8 over anniversary model
 
LTE connections wherever you go and instant waking should come to regular PCs, too
 
That fiction is slowly becoming a reality
 
The Snapdragon 845 octa-core SoC includes the Snapdragon X20 LTE modem
 
Human moderators can help make YouTube a safer place for everyone
 
Google says Progressive Web Apps are the future of app-like webpages
 
All 2018 models to sport the 'notch'
 
The biggest exchange in South Korea, where the BTC/KRW pair is at $14,700 now
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
     12
3456789
10111213141516
17181920212223
24252627282930
31      




Poll

Do you use microSD card with your phone?
or leave your own version in comments (4)