Industrial News

Agreement Expands Distribution Partnership to Include All Cypress Products, Opening up New Opportunities for Growth in Japanese Market SAN JOSE, Calif. and TOKYO, Sept. 11, 2015 /PRNewswire/ -- Cypress Semiconductor Corp. (NASDAQ: CY) and Fujitsu Electronics Incorporated (FEI) today finalized an agreement that will significantly expand FEI's role as a distribution partner for Cypress. In the wake of Cypress's merger with Spansion Inc. in March 2015, the agreement replaces the two prior agreements between Spansion and FEI, providing FEI with access to the products covered by the prior agreements and adding Cypress's entire product line, including PSoC® Programmable System-on-Chip devices, automotive touch-sensing solutions, SRAM and nonvolatile memories, Bluetooth Low Energy solutions [...]

ITASCA, Ill.--(BUSINESS WIRE)--Jul. 1, 2015-- Knowles Corporation (NYSE: KN), a market leader and global supplier of advanced micro-acoustic solutions and specialty components, today announced the successful completion of its cash and stock tender offer for all the outstanding shares of common stock of Audience, Inc. The acquisition will expand Knowles’ existing expertise in intelligent audio and signal processing solutions through Audience’s strong engineering team and robust patent portfolio. The highly complementary product and technology portfolios will enable Knowles to deliver comprehensive audio solutions to its customers. The offer expired as scheduled at 12:00 midnight (one minute after 11:59 p.m.), Eastern Time, on June 30, 2015. Following [...]

Cypress Semiconductor got a price target increase Monday from an analyst who sees significant cost synergies from its acquisition of Spansion last week, and he ponders whether the 1,600 job cuts reportedly in the works mean that the company will exit some of its businesses. RBC Capital Markets analyst Doug Freedman, in a research report Monday, increased his price target for Cypress stock to 18 from 17 after the merger with Spansion. San Jose, Calif.-based Cypress Semiconductor, which specializes in microcontrollers and flash-memory chips in automotive, industrial and consumer markets, announced Friday that it had closed the merger, which [...]

Merger Creates $2 Billion Global Leader in MCUs and Specialized Memories for Embedded Systems No. 1 in SRAMs, No. 1 in NOR flash and No. 3 in MCUs and Memories for the Automotive Market SAN JOSE, Calif., March 12, 2015 /PRNewswire/ -- Cypress Semiconductor Corp. (NASDAQ: CY) and Spansion, Inc. (NYSE: CODE) today announced that they have closed the merger of the two companies in an all-stock, tax-free transaction valued at approximately $5 billion. In a special meeting earlier today, Cypress shareholders approved the issuance of 2.457 shares of Cypress stock to Spansion shareholders for each Spansion share they own. Spansion shareholders approved the merger in a separate special meeting. [...]

Mitsubishi Motors Philippines Corporation (MMPC), one of the country’s leading automotive brands and with more than 50 years of automotive manufacturing experience in the Philippines inaugurates its new manufacturing plant located in a 21-hectare facility which it acquired last year in Greenfield Automotive Park in Sta. Rosa, Laguna. The acquisition and transfer to Sta. Rosa, Laguna is part of Mitsubishi Motors Corporation’s (MMC) “New Stage 2016” Mid-term plan of reinforcing business in the Philippines as a core market following Thailand and Indonesia. This is in preparation for MMC’s further business development in the ASEAN countries. MMC has recognized MMPC’s [...]

Infineon Technologies AG of Munich, Germany has completed its acquisition (announced on 20 August) of International Rectifier Corp (IR) of El Segundo, CA, USA, following the approval of all necessary regulatory authorities and International Rectifier’s shareholders. The deal is worth about $3bn (with Infineon paying $40 per outstanding share of International Rectifier). Infineon (which has about 29,800 staff) had sales of Euro 4.3bn in fiscal 2014 (to end-September). Power management technology provider International Rectifier (which has 4200 staff) reported revenue of $1.1bn for fiscal 2014 (ending 29 June). “The acquisition of International Rectifier is an important step for [...]

CEBU CITY -- Japanese consumer electronics manufacturer Funai Electric Co. Ltd. has taken over the inkjet-related facilities and staff of Lexmark International (Philippines), Inc. in Mactan. Information about the acquisition was relayed to the office of Mactan Economic Zone Administrator Sansaluna Pinagayao last month, less than a year after Lexmark announced it was going to shut down the Mactan plant and get out of the inkjet market by 2015 to focus on the high-value imaging and software businesses. Funai took over the Mactan plant on May 1, sources said. The Mactan plant, which occupies over three hectares at [...]

For over two decades, Honda Cars Philippines' facility in Santa Rosa, Laguna, has been manufacturing affordable and high-quality automobiles. From the legendary EG Civic to the newest GM City, all units produced at this plant have been assembled with the greatest of care. I've always felt that the Philippine-made cars have had an edge over other Hondas made outside Japan. Maybe it's that extra attention to detail that our countrymen put into their work, but it has always been a point of pride for me, despite not being a flag-waving cheerleader for the "Proudly Philippine-made" set. Recently, we were [...]

Complementary Products and Markets Create Opportunities for Growth in Global Electrical Industry Cooper Shareholders to Receive $39.15 per Share in Cash and 0.77479 in Ordinary Shares for 29% Premium; Transaction Equity Value of $11.8 Billion. The Acquisition is expected to be accretive to operating earnings per share by $0.35 in 2014 and by $0.45 in 2015. Excluding the non-cash expense related to the amortization of intangibles arising from purchase accounting, the Acquisition is expected to be accretive to operating earnings per share by $0.65 in 2014 and by $0.75 in 2015 . The Acquisition will be financed with a [...]

Western Digital Corp. (NYSE: WDC) today announced that it has completed its acquisition of Viviti Technologies Ltd. (formerly Hitachi Global Storage Technologies), effective Mar. 8, 2012, for $3.9 billion in cash and 25 million shares of WDC common stock valued at approximately $0.9 billion1. Hitachi, Ltd. now owns approximately 10 percent of WDC shares outstanding, and it has the right to designate two individuals to the board of directors of WD. The new WD will operate with WD Technologies (WD) and HGST as wholly owned subsidiaries. Aggregated revenues of the two companies in 2011 were $15 billion. As [...]