Friday, April 18, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
HTC Hired Ex-Samsung Marketing Officer
Xbox One Wolrdwide Sales Cross 5 million
Samsung Works With GLOBALFOUNDRIES On 14 nm FinFET Offering
Facebook To Find Nearby Friends
Console Sales Lift AMD's First Quarter Results
LG Expands 'Second Screen' TV Ecosystem With Open-Source SDK
Amazon Announces Kindle Service For Samsung Devices
Nokia Halts Sales Of Lumia 2520 Tablet
Active Discussions
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
IBM supercharges Power servers with graphics chips
Werner Vogels: four cloud computing trends for 2014
Video editing software.
 Home > News > Optical Storage > Zoran C...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, May 06, 2003
Zoran Corporation and OAK Technology sign merger agreement to create Global Leader Inc and software solutions


Zoran Corporation, a leading provider of digital solutions-on-a-chip for the DVD and digital camera markets, and Oak Technology, a leading provider of embedded solutions for the HDTV and digital imaging markets, today announced they have signed a definitive merger agreement. The combined company is positioned to become a global leader in high-growth digital consumer and imaging markets.

Under the terms of the agreement unanimously approved by the respective Boards of Directors, each outstanding share of Oak's common stock will be exchanged for 0.2323 of a share of Zoran common stock and cash in an amount equal to $1.78. Outstanding options to purchase Oak stock will be assumed by Zoran. Total cash and stock consideration represents $5.88 per share based on the closing stock prices on Friday, May 2 2003. The total merger consideration is valued at $358 million including $100 million in cash. Following the transaction, Zoran and Oak stockholders will own approximately 66.6 percent and 33.4 percent, respectively, of the combined company on a fully diluted basis.

The transaction is expected to be completed in the third quarter of 2003 and is subject to approval by the stockholders of both companies as well as regulatory approval. Zoran expects the transaction to be accretive to the company's earnings before amortization and goodwill in the first half of 2004.

The management teams of Zoran and Oak will be combined to address the expanded opportunities created by the merger under the leadership of Dr. Levy Gerzberg, Zoran's president and chief executive officer who will continue as president and chief executive officer of the combined company. The Zoran Board of Directors will be increased to nine members and will include three members of the current Oak Board.


Previous
Next
19% revenew growth of Western Digital for Q3        All News        19% revenew growth of Western Digital for Q3
DivXNetworks launches first DivX(R) for Mac video encoder     Optical Storage News      DivXNetworks launches first DivX(R) for Mac video encoder

Source Link Get RSS feed Easy Print E-Mail this Message

Related News
CSR PLC to Merge With Zoran
Zoran and Software Imaging Launch New Universal Driverless Printing Solution for Smartphones and Tablets
Zoran Demonstrates New 3D, IPTV and Blu-Ray Technologies at IFA 2010
Zoran Licenses RealD 3D Format
Zoran Ships New HDTV Processor
Zoran Demonstrates Integrated HDTV 1080P Processor With HDMI 1.3
Zoran Demonstrates APPROACH Multimedia Processor Platform
Zoran Demonstrates Second Generation HDXtreme 2 DVD Upconverter with Integrated 1080p HDMI At CES 2007
Zoran to Power First Digital Camera with HDMI
Zoran Settles with MediaTek, UMC
MediaTek Signed Patent License Agreements with Zoran Corporation
Zoran Introduces Vaddis 9 Family of DVD Multimedia Processors

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .