[April 16, 2013] AppliedMicro announces sale of TPACK subsidiary to Altera Tweet Apr 16, 2013 (M2 EQUITYBITES via COMTEX) -- Applied Micro Circuits Corporation (Nasdaq:AMCC), a provider of computing and connectivity solutions for next-generation cloud infrastructure and data centres, announced on Monday the signing of a definitive agreement to sell TPACK A/S, its wholly-owned subsidiary based in Copenhagen Denmark, to Altera Corporation. Financial details of the agreement were not disclosed. TPACK delivers complete FPGA-based OTN (optical transport network) products targeting packet and optical networking equipment suppliers. AppliedMicro said that it will retain license rights to TPACK technology following the divestiture. This transaction, which is subject to standard closing conditions and other terms set forth in the agreement, is expected to close later this month. Comments on this story may be sent to [email protected] [ Back To TMCnet.com's Homepage ]