The bidding process is over, with connected-home provider Entropic Communications winning the right to purchase Trident Microsystems’ set-top box (STB) system-on-a-chip (SoC) assets for $65 million, $10 million more than it originally bid.
The purchase now is subject to approval by the U.S. Bankruptcy Court for the District of Delaware, and a court order authorizing Trident to sell the STB SoC assets to Entropic could be entered on or about March 6. The transaction is scheduled to close later this year.
According to the victorious Patrick Henry, Entropic’s president and CEO, "This acquisition marks an important milestone for Entropic and is an exciting new chapter in our company’s history, enabling us to combine our best-in-class MoCA solutions, including MoCA 2.0, with Trident’s STB SoC business to deliver a complete system solution to the world’s premier cable, telco and satellite service providers while expanding our total addressable market over the next several years.”
Some 375 Trident employees worldwide could become Entropic staffers when the deal is done.