Newbridge Networks Corp, Kanata, Ontario has changed the name of its Newbridge Microsystems chip design subsidiary to Tundra Semiconductor Corp, and reduced the status of the formerly wholly-owned business to that of affiliate by selling 5.525m shares in it, reducing its stake to 39%. Tundra provides a family of bus-bridge components conforming to bus standards such as Peripheral Component Interconnect and VMEbus. The shares were sold in a private placing. Tundra has alliances with several of the majors, including Motorola Inc, National Semiconductor Corp, LSI Logic Corp and IBM Corp, which have retained the company to design interface chips they want, and which produce wafers and packages for Tundra. Of the $7.4m raised, $3.6m is new money, to be used by Tundra for working capital, capital equipment and possible acquisitions. Newbridge pockets $3.9m on the sale.
