Entropic Communications to Acquire Company’s Assets for $65MTuesday, February 28, 2012
Entropic Communications Inc., a San Diego maker of semiconductors and software for home entertainment networks, said Feb. 27 that it purchased the set-top box assets of Trident Microsystems for $65 million in a bankruptcy auction.
Sunnyvale-based Trident Microsystems filed for bankruptcy last month, and Entropic made a bid on part of the company’s assets. The final bid, which is still subject to approval from the U.S. Bankruptcy Court for the District of Delaware, was $10 million above its original bid, Entropic said.
Patrick Henry, Entropic’s chief executive, said the acquisition brings inherent value to the organizations’ customers, employees and partners. “Our successful bid brings us closer to adding Trident’s complementary assets, portfolio, research and development, and global presence to Entropic,” he said.
Entropic said it will make employment offers to about 375 Trident employees worldwide. Entropic has about 344 employees, according to Yahoo Finance.
The transaction is expected to close by the end of the first quarter, Entropic said.