- How to use electrical outlets and cheap lasers to steal data
- The botnet world is booming
- NTIA seeks volunteers to review broadband applications
- The 10 dumbest mistakes network managers make
- What's driving this university to IPv6? Going green
Microprocessor designer Transmeta is looking for a buyer. Executives announced plans to sell the company on Wednesday, saying investment bank Piper Jaffray & Co. will act as its financial advisor during the sale process.
The announcement comes two months after Transmeta reached an agreement with Riley Investment Management, a fund that made an unsolicited offer to buy the low-power processor company for $15.50 per share earlier this year. Transmeta's stock price closed at $13.50 on Thursday.
View a slide show of 2008's hottest tech M&A deals.
The July agreement between Transmeta and Riley averted a proxy battle for the company. The deal limited Riley to a 13 percent stake in Transmeta and nominated Riley Chairman Bryant Riley to a seat on an expanded Transmeta board.
Transmeta specializes in low-power microprocessor designs and its LongRun and LongRun2 technologies are licensed to several chip makers, including Intel and Nvidia.
As part of the announcement that Transmeta wants to find a buyer, the company released details of a revised licensing agreement with Intel. Under terms of the settlement reached between the two companies last year, Intel was to pay $150 million to Transmeta, followed by five annual payments of $20 million between 2009 and 2013.
That payment schedule has been accelerated, with Intel agreeing to pay a lump sum of $91.5 million before Sept. 30 in lieu of the five annual payments. Transmeta also agreed to deliver "a copy of certain proprietary Transmeta computing technologies" to Intel with a non-exclusive license to use the technologies commercially.
Details of the technology licensed to Intel were not provided.
Partner Content
Explore the Ultrium Edge
The powerful tape technology can address data security with tape encryption as well as long term data protection.
Find Out More
Disk and Tape Square Off
Discover what disk and tape really cost and which solution provides lower total cost of ownership and optimizes energy use for your organization
Download this White Paper
Don't Fall for the Myths
The Clipper Group explores the truth behind the myths of tape, digging into the misconceptions in the disk vs. tape debate.
Review this information
information examination
An examination of information security issues, methods and securing data with LTO-4 tape drive encryption
Read this analysis
Comment