Tuesday, October 9, 2007

Spansion Buys Saifun Semiconductor

Sunnyvale-based Spansion said Monday that it has agreed to acquire Saifun Semiconductors Ltd., a provider of IP for the non-volatile memory market. The deal is worth $368M in stock and cash. Spansion is a provider of technology for the Flash memory market; Saifun provides intellectual property used by Spansion in its Flash memory products. The deal is expected to close in Q1 of 2008. Spansion was advised by Citigroup Global Markets in the deal, with Lehman Brothers advising Saifun.