Cypress Buys Out Unit Stake

The company closes the purchase of a 6.5% share in Cypress MicroSystems.
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Cypress Semiconductor

(CY) - Get Report

said it completed the acquisition of a 6.5% employee-owned minority stake in one of its units, Cypress MicroSystems.

Cypress MicroSystems invented and sells programmable system-on-chip configurable mixed-signal arrays. The products are used in a wide variety of applications, including cell phones, portable media players, laptop computers and industrial automation.

The product line generated $23.8 million in revenue for Cypress in the fourth quarter.

Shares of Cypress were up 11 cents to $17.83.

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