Transactions Divestiture of a Product Team of a Public Company Oak Technology chose to divest a non-core broadband IC business in order to increase its focus on its digital imaging and optical businesses. We were engaged to advise Oak on the sale and implementation of a structured process for the divestiture of the unit. The Broadband Business Unit within Oak had 48 employees and no significant revenue. The team was technically strong and recognized within the broadband set-top box industry as a leading resource for advanced product development, with a particular strength in "free-to-air" set-top box interfaces which are primarily deployed in Europe and Asia. We implemented our process focusing primarily on semiconductor device manufacturers and vertically integrated systems suppliers. The process yielded multiple offers from qualified buyers. The transaction was completed with Conexant Systems for a total consideration of $25 million in cash and stock. Intelligent Capital, Inc. was Oak's exclusive advisor on the sale of the Broadband Business Unit to Conexant.
|
|---|