Friday, February 22, 2008

ESS Technology Goes Private

Fremont-based ESS Technology, which designs digital video processors for the consumer market, said today that the firm has gone private. The deal is worth approximately $58.3M. Private equity firm Imperium Partners Group is acquiring ESS Technology for $1.64 per share in cash, which the firms said was a 36.67 percent premium over ESS Technology's closing price Thursday. The transacation is expected to close in mid-2008. ESS, which is currently listed on the NASDAQ as ESST, will no longer be publicly traded once the merger closes.