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Tundra Semiconductor Acquires Silicon Logic Engineering
Tundra Semiconductor Acquires Silicon Logic Engineering.
About this update from Tarku Resources Ltd
[{"type":"text","content":"\n\n\n\n\nNew Capability Strengthens Tundra's System Interconnect Leadership\n\nOTTAWA, June 1 /CNW Telbec/ - Tundra Semiconductor Corporation (TSX:TUN),\nthe leader in System Interconnect, today announced that it has acquired\nSilicon Logic Engineering, Inc. (\"SLE\") of Eau Claire, Wisconsin for\n$14 million USD. SLE is a leader in developing high-performance communications\nand computer chip products for some of the world's largest networking and\ncomputing customers. The addition of SLE's highly advanced resources,\nexpertise and intellectual property (IP) will strengthen Tundra's leadership\nin System Interconnect for the communications and computing markets.\nUnder the terms of the agreement, the purchase price is $14 million USD\ncomprised of $10 million USD cash and $4.0 million USD (approximately 259,000)\ncommon shares of Tundra. Half of the share consideration will be payable over\nthe next two years depending on certain operational objectives.\n\"SLE is clearly a company of unique talent and technical depth and we are\ndelighted to welcome them to the Tundra team. This acquisition fulfills a key\nelement of our strategy: by combining SLE's skills with our existing IP and\ncustomer relationships we will expand our product portfolio and broaden the\nrange of applications we can address. Our customers will benefit because we\nwill offer more value through our products and services\", said Jim Roche,\nPresident and CEO of Tundra. \"This also complements our recent acquisition of\nAlliance SSBU by adding deep engineering knowledge of computer and\ncommunications systems to help us develop a stronger portfolio of PCI Express\nproducts.\"\nFounded in 1996 and with roots in the supercomputer industry, SLE is a\nprivate company with over forty employees, each with an average of over 15\nyears of world-class design experience. The company has a successful track\nrecord in all aspects of high performance chip and system design. Since its\ninception, SLE has delivered over 35 first-time-right designs.\n\"We are pleased to be joining forces with Tundra. Their leadership in\ndelivering world-class standards-based System Interconnect products combined\nwith SLE's excellent track record of delivering high-performance chips creates\na formidable offering well positioned to respond to the growing System\nInterconnect outsourcing trend...