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This could be an interesting play. With improving conditions in the semi chip market, investments in some wafer foundries, and a stake in Broadcom, ALSC might turn out to be quite an investment for around $4/share. Do your own DD. Time will tell.....
ALLIANCE SEMICONDUCTOR APPROVES MERGER BETWEEN MAVERICK NETWORKS AND BROADCOM CORPORATION
SAN JOSE, California - January 27, 1999 -- Alliance Semiconductor announced today that it recently approved the merger between Maverick Networks, an Alliance Semiconductor funded start-up company, and Broadcom Corporation. At the signing of the merger agreement, Alliance owned approximately 28.4% of the total outstanding shares of Maverick Networks. In February 1998, Alliance entered into investment and technology license agreements with Maverick Networks to assist them in developing integrated semiconductors for multi-layer network switches.
In a press release dated January 25, 1999, Broadcom Corporation (Nasdaq: BRCM-news), a leading developer of integrated circuits, announced that it has signed a definitive agreement to acquire Maverick Networks, a San Jose, California based company who are developing highly integrated silicon multi-layer switching equipment in enterprise networks.
As reported by Broadcom, under the terms of the agreement, Broadcom will issue 864,200 shares of its Class B Common stock in exchange for all shares of Maverick Networks Preferred and Common Stock, including shares issuable upon exercise of employee stock options and other rights. As reported by Broadcom, the agreement has been approved by the Board of Directors of both companies and is expected to close in approximately 90 days. The transaction is subject to the approval of Maverick Networks' shareholders and satisfaction of regulatory requirements and other closing conditions.
Company Information
Alliance Semiconductor Corporation is a leading worldwide supplier of high performance memory and memory intensive logic products. Alliance's product lines include Static Random Access Memory (SRAM), Dynamic Random Access Memory (DRAM), Flash memory and embedded memory and logic products. Alliance designs, develops and markets its products to the desktop and portable computing, networking, telecommunication, instrumentation, and consumer markets. Alliance manufactures its products through independent and joint venture manufacturing facilities, using advanced CMOS process technologies with line widths as narrow as 0.25 microns. Alliance was founded in 1985 with headquarters in San Jose, California. Additional Company
information can be found on our home page: alsc.com.
All statements in this press release reflecting Alliance's anticipation of receiving Broadcom stock are forward-looking; the risk factors set forth below could cause actual results to differ materially from those in the forward-looking statements. The transaction is subject to the approval of Maverick Networks' shareholders and satisfaction of requirements and other closing conditions. In addition, Alliance's receipt of shares is subject to
regulatory approval. There can be no assurance that such approval will be obtained, or if it is obtained that it will not be delayed. The forward-looking statements in this press release speak only as of the date of this release. The company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or to reflect any change in events, conditions or circumstances on which any such forward-looking statements is based, in whole or in part.
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