[November 22, 2009] Sigma Designs Purchases CopperGate Communications Tweet Nov 18, 2009 (Close-Up Media via COMTEX) -- Sigma Designs, Inc., a provider of system-on-chip, or SoC, solutions used to deliver multimedia entertainment throughout the home, announced the completion of its acquisition of CopperGate Communications. "The combination of Sigma and CopperGate creates a provider of networked home entertainment semiconductor solutions," said Thinh Tran, Sigma's CEO. "I am also eager to welcome Gabi Hilevitz, CopperGate's President and CEO, and the rest of the talented CopperGate team to the Sigma family." Under the terms of the acquisition agreement, which was previously announced on October 13, Sigma has acquired all of the outstanding share capital of CopperGate for a cash payment of approximately $116 million and the issuance to CopperGate shareholders of an aggregate of approximately 3.9 million shares of Sigma common stock. Under the terms of the acquisition agreement, Sigma also assumed outstanding unvested options held by CopperGate employees and agreed to make an additional cash payment of up to $5 million to specified CopperGate employees upon attainment of specified milestones. ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]