Tech Company M&A Transactions
Genesis Microchip Acquisition
On 3/17/2003, Genesis Microchip was acquired by Pixelworks. The acquisition price was $600 million.
Transaction Overview
Company Name
Acquired By
Announced On
3/17/2003
Transaction Type
M&A
Amount
$600,000,000
M&A Terms
Genesis Microchip and Pixelworks Agree to Merge to Create IC Technology Leader for Advanced Displays, Under the terms of the agreement, unanimously approved by both Boards of Directors, Pixelworks will issue 2.3366 shares of Pixelworks common stock for each outstanding share of Genesis Microchip common stock and will issue Pixelworks stock options for Genesis stock options based on the same exchange ratio. Based on Pixelworks' closing stock price of $7.65 per share on March 14, 2003, the transaction is valued at approximately $600 million. Following the transaction, Genesis Microchip's shareholders will own approximately 62.5% and Pixelworks shareholders 37.5% of the merged company, on a fully diluted basis.
Company Information
Company Status
Acquired or Merged
Industry
Components
Mailing Address
2150 Gold Street
Alviso, CA 95002
USA
Alviso, CA 95002
USA
Phone
Website
Email Address
Not Recorded
Overview
Genesis Microchip Inc. (Nasdaq: GNSS) is a leading provider of image processing systems enabling superior picture quality for a variety of consumer and PC-display products.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
James Donegan
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