For years Mushkin has had to answer to stock holders and couldn't compete with private companies like OCZ, Corsair, & Kingston because of rules and regulations. Now that Muskin has been released from Ramtron's control we should start seeing many new and innovative products from Muskin from here on out.
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--July 26, 2005--Ramtron International Corporation (Nasdaq:RMTR - News), the leading developer and supplier of nonvolatile ferroelectric random access memory (FRAM) products, today announced the divestiture of its Mushkin subsidiary, which was approved by the Ramtron board of directors on July 20, 2005. The company has executed an agreement to sell the subsidiary to Mushkin's current general manager for consideration of approximately $1.8 million. The consideration provided in the sale includes, among other things, Mushkin's current accounts receivable and cash balances. The sale closed today, July 26, 2005.
In connection with the sale, the company plans to take a goodwill and long-lived assets impairment charge and an inventory provision charge totaling approximately $4.0 million during the second quarter, of which $3.8 million is expected to be non-cash.
"The sale of Mushkin allows us to dedicate 100% of our efforts to growing our semiconductor business," said Bill Staunton, Ramtron CEO.
Ramtron International Corporation (Nasdaq:RMTR - News) is the leading supplier of nonvolatile ferroelectric semiconductors, including serial and parallel ferroelectric random access memory (FRAM) devices and Processor Companion devices that integrate a variety of commonly needed discrete analog and mixed-signal functions for processor-based systems. For more information, visit http://www.ramtron.com.