Thursday, July 24, 2008

Zilog Hires Investment Bank

San Jose-based Zilog said this morning that it is "reviewing strategic opportunities" and has hired investment banker Oppenheimer & Co. Inc. as its financial advisor. The firm, which develops embedded microcontrollers used in the electronics industry, did not give any reasons for the move, which usually indicates that a company is looking for a buyer. The firm did not give any other details on the move, only saying that it is evaluating a broad range of strategic alternatives to "enhance stockholder value." The move comes shortly before the firm's quarterly earnings announcement, due July 31st.