Oak Acquisition......
pubs.cmpnet.com
A service of Semiconductor Business News, CMP Media Inc.
Story posted at noon EDT/9 a.m. PDT, 8/26/98
Oak Technology acquires maker
of image-processing chips
SUNNYVALE, Calif. -- Oak Technology Inc. here today announced that it
has completed the acquisition of Xerographic Laser Images Corp. XLI will
operate as a division of Pixel Magic, a wholly owned subsidiary of Oak that
provides value-added, programmable silicon and reference-board designs
for OEMs of digital office equipment.
XLI supplies a family of processors that enables enhanced resolution output
from printers, digital copiers, scanners, fax systems. These complement
Oak's offerings of high-performance semiconductors for the optical storage,
consumer electronics and digital office equipment markets
Oak will pay approximately $3.7 million in cash to XLI shareholders, with
the possibility of additional payments up to a maximum of $11.3 million,
subject to the achievement of certain milestones by XLI over a three-year
period ending Dec. 31, 2000.
"XLI's products and core expertise are an excellent complement to Pixel
Magic's existing image processing solutions," said Peter Besen, president of
Pixel Magic. "This acquisition adds an important silicon component desired
by many of our OEM partners to our current product portfolio."
Because the customer base for both Pixel and XLI is nearly identical, the
two companies plan to mesh their technology expertise in silicon integration
and manufacturing, image processing, and resolution enhancement. |
