Mumbai, May 4 (UNI) Tundra Semiconductor, a system interconnect major has completed the acquisition of 'systems solutions business unit' of Alliance Semiconductor Corporation (AllianceSSBU) at US Dollar 5.8 million.
Under the terms of agreement, Tundra has assumed responsibility for the acquired products and support, which would now be available through Tundra's worldwide sales network.
Tundra is a leading provider of system interconnect products supporting standards like PCI-X and RapidO. ''We will work with our customers to leverage the design expertise and capacity of the acquired business along with our existing technology base to develop a market-leading PCI express product portfolio,'' said Tundra President and CEO Jim Roche.
''India is an important region for Tundra both in terms of potential market growth and access to highly talented and innovative research and development skill sets. Tundra already has number of customers in the region. This acquisition will provide a local presence to serve them better,'' said Roch, adding, ''the company also expects to increase the level of support and investment in the Hyderabad facility in order to build a world class research and development center.'' ''Through this acquisition Tundra has gained an experienced and highly innovative design team in Hyderaba in India as well as a team in Santa Clara, California,'' said Tundra Vice President Engineering Benny Chang.
''The unique skill and experience of this team is combined with company's existing complementary technologies which support the growing global operations and strengthens the competitive advantage. The Hyderabad team wil focus on prouct development, including design, verification and physical implementation,'' he added.
Tundra expects to generate revenues between USD 1.7 to 2 million in the first quarter of fiscal 2007, which started on May1, 2006. Thereafter, it is expected that the revenue will grow between 5 per cent and 10 per cent per quarter.
UNI VS PP SKB1901