Sigma Designs, Inc. Announces Plan to Sell its Z-Wave Business for $240 Million
SIGMA DESIGNS (SIGM)
Last sigma designs earnings: 12/7 04:15 pm
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US:NASDAQ Investor Relations:
sigmadesigns.com/ir
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Source: GlobeNewswire
Sale to Silicon Labs to be structured as an asset transaction per the terms of the December 7, 2017 definitive agreementSale of Z-Wave business for gross proceeds of $240 million in cashSigma Designs intends to initiate a plan of liquidation following the closing of the asset transaction, which plan is anticipated to include a substantial initial cash distribution to shareholders FREMONT, Calif., Jan. 23, 2018 (GLOBE NEWSWIRE) -- Sigma Designs, Inc.® (NASDAQ:SIGM) today announced that due to the initial closing conditions in the previously announced definitive agreement with Silicon Labs (NASDAQ:SLAB) for the acquisition of the entirety of Sigma Designs not being satisfied, the parties will move forward with the sale of Sigma’s Z-Wave business to Silicon Labs for $240 million in an asset transaction, pursuant to the terms of the definitive agreement and contingent upon approval by Sigma Designs’ shareholders. Contingent upon such shareholder approval, Sigma Designs expects that th
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