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.
ADCs for high dynamic range – successive-approximation or sigma-delta?
September 01, 2014
Maithil Pachchigar, an applications engineer with Analog Devices Inc., looks at trade-offs that must be considered when choosing ...
Microchip in Pursuit of CSR
Samsung Funds III-V FinFETs in US Lab
A question of Europe
Trinamic's stepper motor package gets you started
Winged parcel delivery: Google's way
August 29, 2014
While there is still debate about if legislation would ever allow swarms of commercial drones to fly over our heads, Google ...
Two-inch Super AMOLED display fits Samsung smartwatch plans
UK armed forces consider lithium sulfur batteries
Small cell market to hit $4.8 billion in five years
- Power Modules: The New Super Power
- Flexible Performance for Network Security Appliances
- Digital Power Management Reduces Energy Costs While Improving System Performance
- Using RF Recording Techniques to Resolve Interference Problems
InterviewA question of Europe
Sir Peter Bonfield sits on the board and has advisory roles in many international companies and universities. With more than 45 years of experience in electronics, computers and communications, here he ...
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, Trinamic Motion Control is offering you to win one of four TMCM-1043 development kits for its highly integrated, NEMA 17-compatible TMCM-1043 stepDancer stepper motor module.
Offering designers an easy-to-use PC-based GUI that allows one-click modification of motor drive current, micro-stepping and other key parameters, the intuitive kits are custom designed and developed for...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.