Entropic to buy Trident Microsystems set-top assets for $65M
Entropic Communications said Monday that it had won a bid to acquire Trident Microsystems' set-top box (STB) system-on-a-chip (SoC) assets for $65 million, which is $10 million more than its original offer.
The company said the deal still must be approved by the U.S. Bankruptcy Court for the District of Delaware. It expects the court to issue an order approving the agreement next week. Trident filed for Chapter 11 bankruptcy protection last month.
"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," Patrick Henry, president and CEO, Entropic, said in a prepared statement.