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October 1, 1997updated 03 Sep 2016 7:21pm

RELIEVED ROSS COMPLETES RE-FINANCING AGREEMENT WITH FUJITSU

By CBR Staff Writer

Ross Technology Inc, the ailing Sparc chipmaker, has agreed a $50m re-financing deal with majority shareholder Fujitsu Ltd and now believes that the threat to end its quotation on the Nasdaq market is over. As a result of the deal, Ross bank debt guaranteed by Fujitsu is $20m. Talks between the two companies also resulted in a deal on chips bought by Ross from Fujitsu. Ross chairman and chief executive Jack Simpson said that as a result of the deal we believe we have the financial structure required to move the business forward to implement our turnaround plan. The company’s efforts, he added, would be focused on developing the 64-bit Viper microprocessor. It was the company’s failure to move beyond 32-bit designs quickly enough which brought it to its present plight.

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