Product category: Communications ICs (Wireless)
News Release from: National Semiconductor
Edited by the Electronicstalk Editorial Team on 19 May 2005
National to sell off cordless business
National Semiconductor has signed a definitive agreement to sell its cordless business unit to HgCapital, a private equity investor based in London, UK.
National Semiconductor has signed a definitive agreement to sell its cordless business unit to HgCapital, a private equity investor based in London, UK The sale of this unit is consistent with National's ongoing focus on core analogue businesses
This article was originally published on Electronicstalk on 5 Jan 2001 at 8.00am (UK)
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According to terms of the agreement, HgCapital will acquire intellectual property, assets and approximately 70 engineers, all of whom are based at National's cordless business unit in 's-Hertogenbosch and its design centre in Hengelo, The Netherlands.
National's design team in 's-Hertogenbosch creates system products targeted primarily for the digital cordless telephony (DCT) market.
These products include baseband and radio transceivers for cordless telephones and basestations as well as cordless voice modules.
The cordless business unit currently represents approximately 5% of National's quarterly revenues.
"This transaction is in line with our ongoing efforts to focus investments on National's higher-margin products in the standard linear analogue market", said Brian L Halla, National's Chairman, President and CEO.
"This sale will allow the cordless team to pursue their own business objectives and opportunities as an independent company".
The sale is expected to close during the first quarter of fiscal 2006, which begins on 30th May 2005.
National will continue to provide manufacturing, sales and infrastructure support during a transition period in order to maintain a continuous supply for customers.
"We are very optimistic about this new company because we have some of the most talented engineers in Europe and a strong international customer base", said Alex Shivananda at HgCapital.
"We will work with National to ensure a smooth transition for National's customers in the cordless market".
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