SMSC Aquires Conexant Systems, CA Names New Sustainability Officer

SMSC  to acquire Conexant Systems

Hauppauge-based semiconductor company announced Monday it has signed an agreement to purchase all shares of Conexant.

 The stock and cash transaction is value at $284 million, and under the agreement SMSC will assume Conexant’s debt.  The agreement has already been approved by the boards of directors of both companies.

“We believe that combining the growth potential of Conexant and SMSC will all us to leverage complementary technology and engineering resources to provide our customers with expanded solution in connectivity and content, “ said  Christine King, president and CEO of SMSC,  in a press statement.

 Under the agreement, Conexant shareholders will receive approximately $2.25, of which $41125 will be cash and the other a fraction of a share of SMSC common stock divided by the volume weighted average price of SMSC common stock for 20 trading days prior to the agreement closure. SMSC expects approximately 2.9 to 3.6 million shares of common stock to be issued.

Conexant President and CEO Sailesh Chittipeddi will join SMSC upon completion of the acquisition as their new executive vice president.

 SMSC Reports Third Quarter Fiscal 2011 Results

In addition to announcing the acquistion, SMSC released its financial result for the third quarter of 2011 ending Nov. 20, 2010. The highlights included a record revenue of $107 million, an increase of 23 percent over last year, and record automotive market revenue of $19.1 million.

 CA Technologies names new Chief Sustainability Officer

CA Technologies, based in Islandia, announced Cynthia Curtis had been promoted to the position of vice president and chief sustainability office. Curtis will be responsibility for setting the company’s global sustainability strategy and initiatives.

Curtis joined CA in 2010, and since that time has extended the company’s sustainability initiatives. She displayed leadership in creating a cross-functional advisory board and a program management office.

“A mind-set of ‘sustainability equals innovation’ is essential to making an effective transition to this new economy and I will work to raise the bar in this area for CA Technologies,” Curtis said.

Prior to working at CA, Curtis was chief marketing officer at Utimaco Safeware and senior director of marketing for EMC Global Services.  Her experience also includes the position of director for the United Services Organization in Germany.