CY » Topics » Sale of Network Search Engine (NSE) Assets:

This excerpt taken from the CY 10-Q filed Aug 11, 2006.

Sale of Network Search Engine (“NSE”) Assets:

During the first quarter of fiscal 2006, we completed the sale of the assets and intellectual property associated with certain products in our NSE product line to NetLogic Microsystems, Inc. (“NetLogic”). Pursuant to the agreement, NetLogic issued to us approximately 1.7 million shares of its common stock. In addition, if certain revenue milestones associated with the NSE assets sold to NetLogic are achieved in the twelve-month period after the close of the transaction, NetLogic will pay us up to an additional $10.0 million in cash and up to an additional 0.3 million shares in NetLogic’s common stock.

This excerpt taken from the CY 10-Q filed May 12, 2006.

Sale of Network Search Engine (“NSE”) Assets:

During the first quarter of fiscal 2006, we completed the sale of the assets and intellectual property associated with certain products in our NSE product line to NetLogic Microsystems, Inc. (“NetLogic”) pursuant to that certain Agreement for

 

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the Purchase and Sale of Assets, dated January 25, 2006 and amended February 15, 2006 (the “Agreement”). The products sold to NetLogic included the Ayama™ 10000, Ayama 20000, and NSE70000 Network Search Engine families as well as the Sahasra™ 50000 Algorithmic Search Engine family (the “NSE Assets”). We retained and continue to support the custom TCAM1 and TCAM2 products in our NSE product line.

Pursuant to the terms of the Agreement, NetLogic issued to us $50.0 million in NetLogic’s common stock, or approximately 1.7 million shares valued at $30.24 per share, at the date of the Agreement. Included in the 1.7 million shares of NetLogic’s common stock were approximately 0.2 million shares that were issued to us upon the delivery of certain audited financial statements related to the NSE Assets to NetLogic. In addition, if certain revenue milestones associated with the NSE Assets are achieved in the twelve-month period after the close of the transaction, NetLogic will pay us up to an additional $10.0 million in cash and up to an additional 0.3 million shares in NetLogic’s common stock.

EXCERPTS ON THIS PAGE:

10-Q
Aug 11, 2006
10-Q
May 12, 2006
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