SILICON VALLEY, June 11, 2015: Morgan Lewis represented Parade Technologies, Ltd. in its definitive agreement with Cypress Semiconductor Corp. to acquire Cypress’s TrueTouch Mobile touchscreen business for an aggregate acquisition price of $100 million in cash. Announced on June 10, the transaction is expected to close during the third quarter of 2015 and is subject to customary closing conditions.
Parade Technologies is a leading fabless supplier of mixed-signal integrated circuits (ICs) for a variety of display and high-speed interface standards used in computers, consumer electronics, and display panels. Cypress Semiconductor supplies high-performance ICs used in advanced embedded systems, from automotive, industrial and networking platforms to highly interactive consumer and mobile devices.
The Morgan Lewis team advising Parade Technologies on the transaction was led by partners John Park and Thomas Kellerman. Assisting on the transaction were partners Steven Browne, Rahul Kapoor, Douglas Crisman, and Benjamin Pensak; as well as of counsel Joo Ryung Kang and associate Cindy Dole.
For more information on the transaction, please see Parade’s announcement.