CAMBRIDGE, U.K., Feb. 25, 2004 (PRIMEZONE) -- On 27 January 2004 ARM Holdings plc ((LSE:ARM) (Nasdaq:ARMHY)) announced that it had entered into an agreement for the acquisition of Triscend Corporation, a fabless semiconductor company specializing in ARM(R) core-based microcontrollers. The agreement included various representations and warranties given by Triscend and completion of the acquisition was additionally subject to fulfilment of certain conditions by Triscend, including approval by a majority of its shareholders.
As a consequence of developments since the signing and announcement of the agreement, ARM's proposed acquisition of Triscend will not proceed. Triscend has informed ARM that it has received a competing offer for the business and, after due consideration, ARM has decided not to make a counter offer and the agreement has been terminated by mutual consent.
ARM fully intends to pursue its strategy of becoming the leading architecture in the emerging 32-bit microcontroller market and continues to work with Partners on their microcontroller opportunities.
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