Philips targets end '06 for chips unit IPO or merger
June 21, 2006 //
Royal Philips Electronics has reiterated its intention to float or sell off a majority stake in its semiconductors division by the end of this year.
LONDON Royal Philips Electronics has reiterated its intention to float or sell off a majority stake in its semiconductors division by the end of this year.
The company revealed last December it would legally separate the division, and in an interview with EE Times in January, Frans van Houten, chief executive officer of Philips Semiconductors confirmed plans to pursue a merger but remained quiet about potential partners it may be pursuing.
In December 2005, it talked of spinning off its semiconductor business by mid-2006
A Philips spokesman told EE Times the company has now narrowed down the options to a partnership or merger with another semiconductor company, an IPO or a sale of shares to financial institutions.
"We still do not know which the preferred option is. We have been discussing potential strategic partnerships over the past few months, and if the correct opportunity for this emerged, we would certainly not rule it out, said the spokesman.
In a letter e-mailed to employees Wednesday (June 21) Philips' President and CEO Gerard Kleisterlee wrote: "In the course of these last few months hundreds of Philips people have been working long hours on issues relating to the disentanglement of Semiconductors, while a small top team has worked on the pursuit of the different strategic alternatives. Both projects are well on track and in the process we have been able to define more clearly the next steps we will make and the outcome that will result in, both for Philips as well as Semiconductors. This has led us to the decision to speed up the transformation of our Semiconductors division into a standalone company that is separate from Philips and will have a majority third parties ownership."
Kleisterlee added the disposal is part of group strategy to move from a focus on high volume electronics and implementing a strategy to build a Healthcare, Lifestyle and Technology company with a strong market focus.
Philips said it would start consultations with workers councils "about the steps that need to be set in order to complete the disentanglement by the end of the third quarter and create an independent semiconductor company with majority third party shareholding before the end of the year 2006.
Spansion expands MCUs with IoT on its radar
October 21, 2014
On Monday, October 20, Spansion Inc. unveiled 96 new MCUs, fresh additions to the company's FM4 family of MCUs based on the ...
European plastic electronics industry flexes its muscles
Graphene aerogels promise enhanced energy storage performance
R&S demos 5G test setup
Global chip capex to rise 11% in 2014
"New" MEMS evolution coming, predicts Yole
October 20, 2014
A change is occurring in the technology options behind MEMS sensors, according to Yole Developpement.
TSMC Capex to exceed $10B in FinFET ramp-up
Supercomputer simulations point path to better Mg-ion batteries
Simpler circuit design unlocks power of superconducting devices
- 5 Best Practices for Designing Flexible Test Stations
- Intelligent PLCs Expand the Internet of Things
- Solutions for Millimeter Wave Wireless Backhaul
- Enter Linduino
InterviewCEO interview: AMS' Laney on driving a sensor-driven business
Kirk Laney, CEO of Austrian mixed-signal chip and sensor company AMS, wants to leverage the opportunity that technology affords to create new markets for sensors and sensor interfaces.
Filter WizardCheck out the Filter Wizard Series of articles by Filter Guru Kendall Castor-Perry which provide invaluable practical Analog Design guidelines.
Linear video channel
READER OFFERRead more
This month, Oscium is giving away three of its iMSO-204L dual analogue iOS oscilloscopes, worth USD400 each. Designed with native Lightning compatibility, the iMSO-204L transforms the iPad, iPhone, and iPod touch into an ultra-portable, two-channel oscilloscope.
Since Apple changed its connector, Oscium has been working to bring native compatibility to its customers. The third generation...MORE INFO AND LAST MONTH' WINNERS...
December 15, 2011 | Texas instruments | 222901974
Unique Ser/Des technology supports encrypted video and audio content with full duplex bi-directional control channel over a single wire interface.