Cypress Semiconductor and Spansion agreed to to merge in an all-stock, tax-free transaction valued at approximately $4 billion. Spansion shareholders will receive 2.457 Cypress shares for each Spansion share they own.
The combined company, which will be headquartered in San Jose, California and called Cypress Semiconductor, will be a $2 billion global leader in microcontrollers and specialized memories for embedded systems.
The current Cypress supplies programmable system-on-chip families for consumer, mobile handsets, computation, data communications, automotive, industrial and military applications. Cypress is the world leader in capacitive user interface solutions including CapSense touch sensing, TrueTouch touchscreens, and trackpad solutions for notebook PCs and peripherals. Cypress is a world leader in USB controllers, which enhance connectivity and performance in a wide range of consumer and industrial products. Cypress is also the world leader in SRAM and nonvolatile RAM memories.
Spansion supplies flash memory, microcontrollers, analog and mixed-signal products used in a range of applications, from automotive electronics and industrial systems to highly interactive consumer devices.
