Thursday, July 12, 2007

Atmel Sells Network Storage Group

San Jose-based Atmel said Wednesday evening that it has sold its network storage products group, to Mosys Inc. Financial terms of the deal were not disclosed. Atmel said the sale occured on July 2, 2007, and included cash and assumption of certain liabilities. Products included in the sale included systems-on-a-chip semiconductors targeted at the network storage and HD DVD marketplace, and also included the transfer over over 1000 current Atmel employees. Atmel said that none of the products sold have yet gone to production. Atmel said that the move was part of its ongoing plans to focus its resources on its core products.