Entropic Communications Completes $65M AcquisitionWednesday, April 18, 2012
Entropic Communications, a San Diego maker of software and hardware for home entertainment networks, said April 12 that it completed its $65 million acquisition of Trident Microsystems’ television set top unit.
Entropic agreed to buy the business in January in an auction process after Sunnyvale-based Trident filed for bankruptcy protection.
As a result of the acquisition, Entropic will gain 365 employees to bring its total to about 700.
CEO Patrick Henry said the purchase expands the company’s presence in the connected home entertainment market by providing complementary assets, intellectual property, patents, core competencies and products that address a much larger available market.
Traded on Nasdaq under ENTR, shares closed April 16 at $5.02, down 8 cents from the prior trading day’s closing price, and have ranged from $3.36 to $9.58 in the past 52 weeks.