Wednesday, November 19, 2008

Transmeta Acquired By Novafora

Santa Clara-based Transmeta Corporation, a developer of microprocessor technology, and Novafora, Inc. said Monday that they have signed a definitive agreement for Transmeta to be acquired by Novafora. The deal was worth $255.6M in cash. Novafora develops digital video processors and is based in San Jose. The deal is expected to close in the first quarter of 2009. As part of the deal, the firms said that Transmeta has entered into a non-exclusive patent license with AMD, and that AMD will transfer 700,000 shares of Transmeta Series B preferred stock held by AMD. Transmeta was advised by Piper Jaffray & Co. and Fenwick & West in the deal; Novafora was advised by GCA Savvian and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP, Gross Kleinhendler Hodak Halevy Greenberg & Co. (GKH) and Davis Polk & Wardwell.