Cypress Semi Sells Search Engine

It gets stock and cash.
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Chip-maker

Cypress Semiconductor

(CY) - Get Report

announced the sale of its standard network search engine products to NetLogic Microsystems.

Under the terms of the acquisition, Cypress will receive about $50 million in Net Logic Microsystems' common stock upon closing, in addition to $10 million in cash. It will get another $10 million in Net Logic stock provided certain revenue targets are achieved over 12 months.

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