CYPRESS Semiconductor (CY) Message Board

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Technology Stocks : CYPRESS Semiconductor (CY)

CY 23.82

0.0%

Apr 16 5:00 PM EST

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To: Shawn Donahue who wrote (2522)	2/8/2006 1:41:04 PM
From: Shawn Donahue	Read Replies (2) of 2694

Cypress Buys Out Minority Stake in Unit Wednesday February 8, 10:58 am ET Cypress Buys Out Minority Stake in Microsystems Unit SAN JOSE, Calif. (AP) -- Chip maker Cypress Semiconductor Corp. said Wednesday it has closed its acquisition of the 6.5 percent minority stake in its microsystems unit, making the business a wholly-owned subsidiary. Cypress, whose board approved the $14.8 million acquisition in October 2005, said the business is now a unit in the company's consumer and computation division. Based in Lynnwood, Wash., the unit invented and sells a device used in various goods, including cell phones, portable media players and laptops. The device accounted for $23.8 million in revenue for Cypress in the fourth quarter. Separately, Cypress said it agreed to transfer its remaining die and finished goods inventory for three lines of devices to Arrow Electronics Inc. "Arrow/Zeus is a long-term, trusted partner for Cypress and has built a reputation for outstanding support for the military and aerospace market," Cypress said in a statement. Cypress shares rose 27 cents to $17.65 in morning trading on the New York Stock Exchange biz.yahoo.com

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