National Semiconductor (NatSemi) is selling its Cyrix low end PC chip business to Taiwanese processor manufacturer Via Technologies for $167 million.
While the deal was signed on 30 June, terms were not disclosed at the time, although some analysts had speculated the unit would go for about $350 million - much less than the $550 million that NatSemi paid for it in June 1997.
The acqusition had put NatSemi into direct competition with Intel, and after racking up big losses from the business, Brian Halla, NatSemi’s chief executive, admitted defeat and decided to sell both Cyrix and a large chip factory in South Portland, Maine.
Via said it will pay part of the $167 million when the deal closes in about a month’s time and the rest based on future revenues generated from Cyrix’s product line, which includes NatSemi’s MIIX86 compatible processor and its successors.
NatSemi plans to keep its integrated MediaGX processor, whihc forms the core of its new Geode system on a chip offering, and will work with Via on “a transition plan for products, customers and employees”.
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