Wednesday, January 4, 2012

Trident Microsystems Files For Chapter 11

Sunnyvale-based semiconductor maker Trident Microsystems reported this morning that the firm, along with its Cayman subsidiary, Trident Microsystems (Far East) Ltd., have filed for Chapter 11 Bankruptcy. The firm said the filing came as a result of "undergoing rapid changes" which have hindered its ability to operate profitably. As part of the Chapter 11 filing, the firm said it is looking for approval on an agreement to sell its set-top box business to Entropic Communications, Inc. The firm also said it is looking to sell its other, remaining business units.