Alliance chip unit sold, renamed PulseCore
An investment group late Tuesday finalized the purchase of Alliance Semiconductor's Analog and Mixed Signal unit and rechristened it PulseCore Semiconductor.
Shah Capital Partners and August Capital said in a news release that their new company would continue offering high-performance Integrated Circuits in a worldwide market.
"This partnership will bring us expanded access to resources and strategic expertise to successfully grow our business," said PulseCore Chief Executive Officer Narendar "Buddy" Venugopal.
Shah said PulseCore products are used widely by Tier 1 equipment manufacturers, and the acquisition fits with its strategy of investing in high-tech companies with long-term value potential.
U.S.-based PulseCore has offices in India and Taiwan.
Alliance said in a news release that the deal was valued at $9.25 million.
CEO Mel Keating said the sale "represents further significant progress as we continue to execute on our plan to exit the manufacture and sale of semiconductor products, reduce headcount and expenses and return value to our stockholders."
Copyright 2006 by United Press International
