BeaconEquity.com announces the publication of ‘Simtek Corp. (SMTK) Enters into Buyout Deal with Cypress (CY)’
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Simtek Corp. (SMTK) Enters into Buyout Deal with Cypress (CY)
”Simtek Corp.'s shares jumped more than 44% after Cypress Semiconductor (NYSE: CY) announced it would acquire the company. When the merger was initiated last Februrary, shares of SMTK soared 60%. SMTK, the world’s leading supplier of nonvolatile static random access memory (nvSRAM) integrated circuits, is stepping into the spotlight once again after finally reaching an acquisition agreement with Cypress, the leader in programmable solutions…
“For an all cash transaction of $2.60 per share of Simtek common stock, or an aggregate value of approximately $46 million (including the value of Simtek shares held by Cypress), Cypress will acquire Simtek. Both companies are joint development partners; Cypress currently holds approximately 4% of Simtek’s outstanding common stock and has been marketing and licensing Simtek’s technology since engaging in a joint product development agreement with Simtek in March 2006…
“Simtek’s nvSRAMs provide the high-speed memory access of standard SRAMs (15-ns access time), but retain data when power is turned off - a feature critical to applications where secure data storage is essential to system functionality. This is in contrast to the most common forms of random access memory today, DRAM and SRAM, which both require continual power in order to maintain their data…”
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