Simtek becomes Cypress Semiconductor subsidiary

By Lisa Kerner

Charlotte, N.C., Sept. 17 - Cypress Semiconductor Corp. said it successfully merged its wholly owned subsidiary Copper Acquisition Corp. with and into Simtek Corp., making Simtek a Cypress subsidiary.

All remaining outstanding Simtek shares have been cancelled and converted into the right to receive $2.60 per share, net to the holder in cash, without interest and less any required withholding taxes, a Cypress news release said.

Cypress ended its tender offer for Simtek shares on Sept. 12.

It was previously reported that approximately 14,717,634, or 83.91%, of Simtek's issued and outstanding shares were validly tendered in the offer.

Simtek is a fabless semiconductor company located in Colorado Springs.

Cypress is a San Jose, Calif.-based semiconductor manufacturer.

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