Atmel Sells Grenoble-Based Subsidiary for $140M
SAN JOSE, Calif., July 13, 2006 -- As part of its plan to consolidate its manufacturing operations, Atmel Corp., a maker of electronic components and subsystems such as image sensors and cameras, announced today that it will sell its subsidiary, Atmel Grenoble SAS of Grenoble, France, to British corporation e2v technologies plc for approximately $140 million in cash.
For the year that ended Dec. 31, 2005, Atmel Grenoble generated sales of 101.6 million euros (approximately $129 million). Atmel Corp. said it will retain rights to the subsidiary's patented fingerprint scanning recognition technology. All other Atmel Grenoble products, including image sensors and aerospace-qualified microprocessors and the businesses' manufacturing facility, are included in the sale, the company said.
e2v, based in Chelmsford, England, manufactures electronic tube and sensor components and subsystems for the medical and science, aerospace and defense and commercial and industrial markets. Keith Attwood, e2v chief executive, said the acquisition will allow the company to expand into its existing market with a broader range of products.
The transaction, subject to approval by e2v's shareholders and French regulatory agencies, is expected to be completed on July 31. For more information, visit: www.atmel.com or www.e2v.com