Cypress and Spansion complete 5 billion dollar merger

Cypress and Spansion announced that they have closed the merger of the two companies in an all-stock, tax-free transaction valued at approximately 5 billion dollar.

The merger is expected to achieve more than 135 million dollar in cost synergies on an annualized basis within three years and to be accretive to non-GAAP earnings within the first full year after the transaction closes.

“We closed this merger even more quickly than originally anticipated, accelerating our strategic and financial roadmap”, Rodgers said. “From Day One, the new Cypress will capitalize on its expanded product portfolio and leadership positions in embedded processing and specialized memories to significantly extend its penetration of global markets such as automotive, industrial, consumer, wearable electronics and the Internet of Things”.

 

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