BURLINGTON, ON, Feb. 8 /CNW/ - Gennum Corporation (TSX: GND) announced
today that it has closed its previously announced sale of its VXP(R) image
processing business to Sigma Designs (Nasdaq: SIGM). With this sale, Gennum
achieves another milestone in its ongoing strategy to focus on delivering
proven optical, analog and mixed-signal solutions to the video broadcast, data
communications and consumer connectivity markets.
Cash proceeds from the sale of the VXP business are approximately
U.S. $18 million.
Gennum and Sigma Designs reached a definitive agreement for the sale on
January 3, 2008.
Gennum Corporation (TSX: GND) designs innovative semiconductor solutions
and intellectual property (IP) cores for the world's most advanced consumer
connectivity, enterprise, video broadcast and data communications products.
Leveraging the company's proven optical, analog and mixed-signal products and
IP, Gennum enables multimedia and data communications products to send and
receive information without compromising the signal integrity. A winner of a
Technical Emmy(R) award for advances in high definition (HD) broadcasting,
Gennum is headquartered in Burlington, Canada, and has global design, research
and development and sales offices in Canada, Mexico, Japan, Korea, Germany,
United States, Taiwan and the United Kingdom. www.gennum.com.
Gennum and the Gennum logo are registered trademarks of Gennum
Corporation. All other product or service names are the property of their
respective owners. Gennum Corporation, 2008.
For further information:
For further information: Robin Vaitonis, Gennum Corporation, (905)
632-2999 x2110, firstname.lastname@example.org, www.gennum.com; Diane Orr, Orr & Company,
(408) 358-1617, email@example.com