Thursday, February 19, 2009

Zilog Sells Businesses

San Jose-based Zilog announced this morning that it has sold a number of its assets, including its remote control business and secure transaction businesses, in a sale to Maxim Integrated Products and Universal Electronics. According to Zilog, the businesses, which included 128 of its employees, were sold for $31M in cash. Zilog said it sold its technology, intellectual property, and assets of its universal remote control hardware and secure transaction business to Maxim, and the technology, intellectual property, and assets of its remote control and universal infrared database solution to UEI. The firm said the move was part of a review of strategic alternatives, and improves the firm's financial structure and liquidity.