Tuesday, October 11, 2005
Mosaid Technologies Inc. said it has completed the acquisition of Virtual Silicon Technology Inc.
Mosaid, the Ottawa-based memory IP maker, said it will pay $5.35 million in cash to acquire Virtual Silicon. It will also pay current shareholders an undisclosed percentage of the businesses' operating profit over an 18-month period ending in March 2007.
Virtual Silicon specializes in the design of low-power consumption devices for mobile electronics. The company recorded revenues of about $7 million in its most recent fiscal year ending in March.
Mosaid said it would continue operating Virtual Silicon from its current location in Sunnyvale, Calif., and retain all of its 24 employees.
By: DocMemory
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