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CYRIX SHAREHOLDERS ACCEPT OFFER FROM NATSEMI

Shareholders in Richardson, Texas-based chip maker Cyrix Corp, voted this week to accept the merger deal offered to them by National Semiconductor Corp back in July this year and the merger has been completed on the original terms of 0.825 National Semiconductor shares for each share in Cyrix. On current prices, the deal values Cyrix at around $560m while the company’s nine month net profits and revenues are running at $0.6m and $209m respectively. Cyrix shareholders will receive 10% of the stock of the expanded company. NatSemi CEO, Brian Halla said, The merger gives us all the pieces to integrate towards a PC on a chip. Last week, it also announced it is to buy Future Integrated Systems Inc whose graphics technologies are to be included in the system on a chip design.

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CBR Staff Writer

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