OTTAWA-Mosaid Technologies Inc. said it signed a nonbinding letter of intent to acquire the assets of TriCN Inc. for $3.1 million.
San Francisco-based TriCN, which filed for bankruptcy protection late last year, develops semiconductor interface intellectual property products, including specialized libraries for high-performance memory and networking applications. The offer is subject to several conditions, including absence of any material adverse changes to the business and approval of regulators, the bankruptcy court and Mosaid’s board of directors.
Mosaid also has offered to pay up to $900,000 if certain performance objectives are met.
“TriCN’s silicon proven I/O libraries complement Mosaid’s memory controllers,” said Peter Gillingham, vice president and general manager of Mosaid’s Intellectual Property Division. “With the combined Ottawa and San Francisco operations, we will be able to offer an extensive I/O product line and a complete memory controller solution.”
