BRIEF-Sigma Designs Plans To Sell Z-Wave Business For $240 Million [Reuters]
SIGMA DESIGNS (SIGM)
Last sigma designs earnings: 12/7 04:15 pm
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Source: Reuters
BRIEF-Sigma Designs Plans To Sell Z-Wave Business For $240 Million | Reuters Reuters Staff 1 Min Read Jan 23 (Reuters) - Sigma Designs Inc: * PRESS RELEASE - SIGMA DESIGNS, INC. ANNOUNCES PLAN TO SELL ITS Z-WAVE BUSINESS FOR $240 MILLION * SIGMA DESIGNS INC - ?SALE OF Z-WAVE BUSINESS FOR GROSS PROCEEDS OF $240 MILLION IN CASH * SIGMA DESIGNS INC - INTENDS TO INITIATE A PLAN OF LIQUIDATION FOLLOWING CLOSING OF ASSET TRANSACTION * SIGMA DESIGNS INC - PLAN OF LIQUIDATION ANTICIPATED TO INCLUDE A SUBSTANTIAL INITIAL CASH DISTRIBUTION TO SHAREHOLDERS * SIGMA DESIGNS INC - ?DEUTSCHE BANK IS SERVING AS FINANCIAL ADVISOR TO SIGMA DESIGNS * SIGMA DESIGNS INC - INTENDS TO WIND DOWN OR DIVEST ITS REMAINING BUSINESSES OVER NEXT 12 MONTHS * SIGMA DESIGNS - INITIATED ACTIONS TO PRESERVE AMOUNT OF CASH AVAILABLE TO SHAREHOLDERS, INCLUDING WIND-DOWN PROCESS FOR SMART TV & SET-TOP BOX BUSINESS * SIGMA DESIGNS INC - WINDING-DOWN PROCESS FOR ITS SMART TV AND SET-TOP BOX BUSINESS WILL REDUCE SUCH BUSINES
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