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Virage offers $10M to acquire LogicVision

Posted: 05 Dec 2008     Print Version  Bookmark and Share

Keywords:IP business  unsolicited bid  built-in-self-test  acquisition 

Seeking to expand its portfolio, Virage Logic Corp. has made an unsolicited bid to buy LogicVision Inc. for Rs.52.54 ($1.05) per share in cash or about Rs.50.04 crore ($10 million).

Semiconductor IP provider Virage recently contacted LogicVision about a merger, but LogicVision rejected that idea. Now, Virage has made an unsolicited bid for the firm.

LogicVision is a struggling provider of semiconductor built-in-self-test (BIST) and diagnostic solutions. It has been an uphill battle for LogicVision (San Jose) over the last several years. The company has experienced a series of management changes, losses and cutbacks, due to a sluggish adoption rate for its BIST technology.

Meanwhile, over time, Virage has taken steps to grow its IP business. Not long ago, the company was a mere memory and physical IP house. Now, it has expanded into other fronts.

In 2007, Virage acquired Ingot Systems Inc., a provider of intellectual-property (IP) and design services to the semiconductor industry.

In June, Virage acquired Impinj Inc.'s logic non-volatile memory (NVM) IP business for Rs.26.02 crore ($5.2 million). The move expands Virage's IP efforts, while Impinj (Seattle, Wash.) will now mainly focus on its RFID products.

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