Thursday, September 25, 2008

Transmeta Looks For Buyer

Santa Clara-based Transmeta said Wednesday that it has hired an investment bank, it is looking for a buyer for the firm. The publicly traded firm said that it has initiated a process to seek a potential sale of the company, with assistance of Piper Jaffray & Co. Transmeta develops low power microprocessors used in portable electronics. Transmeta also said, in conjunction with its seeking a buyer, that it has reached a deal with Intel to accelerate licensing payments to the firm. That deal calls for Intel to pay $91.5M to the firm before the end of the month, instead of a larger deal that would have involved payments up until 2013.