Acquisition by Golden Gate CompletedBy Nick Flaherty www.flaherty.co.uk
One of the world's classic embedded chip suppliers, Conexant Systems, has been sold to private equity just like NXP and Freescale Semiconductors. In a deal that saw the company sold in the face of an earlier competing offer by SMSC, it is now 'merged' into a new venture, Gold Acquisition Corp, a wholly owned subsidiary of Gold Holdings. Gold is an affiliate of Golden Gate Capital, a private equity firm headquartered in San Francisco, and as a privately held company, Conexant will no longer trade on the NASDAQ Global Market exchange.
After several years of downsizing (Mindspeed and Jazz Semioconductor are Conexant spinoffs and it sold off land next to its headquarters in Caifornia) the company's portfolio of embedded chips includes products for imaging, audio, embedded modem, and video surveillance applications. www.conexant.com.