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February 10, 1997updated 05 Sep 2016 12:33pm

WEITEK REVEALS PLANS TO WIND DOWN THE BUSINESS

By CBR Staff Writer

Weitek Corp, San Jose is now not long for this world. The one- time math co-processor high-flyer will follow the sale of some of its assets and a non-exclusive technology license to Rockwell International Corp with liquidation of its remaining assets and then to wind up the affairs of the company. As a final act, it expects to make a liquidation distribution to shareholders currently estimated to be between $0.40 and $0.60 per share – provided the Rockwell deal goes through.

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