05/04/2002
Parthus merge with American chipmaker DSP
Irish hi-tech sector company Parthus Technologies is to merge with the licensing division of the American-Israeli computer chipmaker DSP.
The move will see the creation of a new company named ParthusCeva, with DSP shareholders having a stake of just over 50 per cent, and Parthus shareholders retaining the remainder.
The deal will also see Parthus shareholders receiving £42 million as part of an approved repayment of capital.
A statement described the development, which will lead to an alliance of the chip-manufacturing capabilities of DSP with the chip-designing expertise of Parthus, as “a merger of equals”.
DSP chairman Eli Alayon will head the new company, with Parthus president Kevin Fielding as its chief executive.
Parthus is headquartered in Dublin, and has offices in Limerick, Cork, Belfast and across the globe.
Eli Ayalon, Chairman of ParthusCeva said: “The merger of our two companies will create what we believe to be the leading independent provider of DSP-based IP solutions with strong customer penetration of many of the world's largest semiconductor companies and OEMs. This integrated solution will favourably position ParthusCeva to exploit the industry trend towards the licensing of open-standard IP architectures for the digital economy.”
Kevin Fielding, President of Parthus who will be Chief Executive Officer of ParthusCeva added: “This is a compelling combination that brings together two leading companies with complementary technologies, roadmaps, customer bases and target markets. By combining DSPG's industry leading DSP cores with Parthus' portfolio of platform-level IP, we believe ParthusCeva will be uniquely positioned to deliver to our customers integrated solutions based on our open-standard processor architecture.”
The new company, ParthusCeva, will be headquartered in San Jose, California. ParthusCeva will have over 400 employees, with approximately 330 involved in research and development.
(AMcE)
The move will see the creation of a new company named ParthusCeva, with DSP shareholders having a stake of just over 50 per cent, and Parthus shareholders retaining the remainder.
The deal will also see Parthus shareholders receiving £42 million as part of an approved repayment of capital.
A statement described the development, which will lead to an alliance of the chip-manufacturing capabilities of DSP with the chip-designing expertise of Parthus, as “a merger of equals”.
DSP chairman Eli Alayon will head the new company, with Parthus president Kevin Fielding as its chief executive.
Parthus is headquartered in Dublin, and has offices in Limerick, Cork, Belfast and across the globe.
Eli Ayalon, Chairman of ParthusCeva said: “The merger of our two companies will create what we believe to be the leading independent provider of DSP-based IP solutions with strong customer penetration of many of the world's largest semiconductor companies and OEMs. This integrated solution will favourably position ParthusCeva to exploit the industry trend towards the licensing of open-standard IP architectures for the digital economy.”
Kevin Fielding, President of Parthus who will be Chief Executive Officer of ParthusCeva added: “This is a compelling combination that brings together two leading companies with complementary technologies, roadmaps, customer bases and target markets. By combining DSPG's industry leading DSP cores with Parthus' portfolio of platform-level IP, we believe ParthusCeva will be uniquely positioned to deliver to our customers integrated solutions based on our open-standard processor architecture.”
The new company, ParthusCeva, will be headquartered in San Jose, California. ParthusCeva will have over 400 employees, with approximately 330 involved in research and development.
(AMcE)
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