|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the ELX 10-K filed Sep 15, 2006. Note 16 Subsequent
Events
On August 29, 2006 the Company announced it would acquire
Sierra Logic Inc. (Sierra Logic), a privately held designer of
semiconductors for storage networking equipment located in
Roseville, California, for up to approximately $180 million
in cash, assumed debt, assumed stock options, and employee
equity incentive compensation. The acquisition, if completed,
solidifies the Company’s embedded multi-protocol strategy
in the
end-to-end
embedded storage components market.
If the closing conditions are fulfilled, including those
requiring action by Sierra Logic, then the Company has an
obligation to close the transaction and the Company becomes
obligated for the approximately $180 million in cash,
assumed debt, assumed stock options, and employee equity
incentive compensation.
In addition, subsequent to fiscal 2006, the Company invested
approximately $5.0 million in an early stage, privately
held, company in the storage networking industry.
Table of Contents
|
| |||||||
