Motorola bids $95M to purchase Metrowerks
By the SBN news staff
Semiconductor Business News
(08/19/99, 3:15 p.m. EDT)
edtn.com
AUSTIN, Texas — Motorola Inc.'s Motorola's Semiconductor Products Sector said today that it will offer to acquire all of the outstanding common shares Metrowerks Inc., a software tools developer.
In a cash bid of $6.25 per share, the deal would be worth about $95 million. The Metrowerks board of directors unanimously approved the proposed sale to Motorola.
Motorola SPS wants to make Metrowerks' products a core component of its software tools for developing DigitalDNA embedded solutions. Metrowerks' flagship product line, CodeWarrior, is a suite of programming tools to create software in the C, C++, Java and assembly programming languages.
"Metrowerks has an exceptional team, and its CodeWarrior software development products are among the industry's best for desktop and embedded systems programming, covering microprocessors, microcontrollers and digital signal processors," said Hector de J. Ruiz, president of Motorola SPS.
Jean Belanger, chairman and chief executive officer of Metrowerks, added, "We are enthusiastic about the offer being made by Motorola and believe it provides an attractive price to our shareholders."
Metrowerks (Austin, Texas) was founded in Canada in 1985 and recently moved its headquarters to Austin, where 200 of its 240 employees are located. In fiscal 1997, the last year for which information is available, revenues were $18.3 million |
