Business Spansion completes Fujitsu deal; expands NAND business

Business Spansion completes Fujitsu deal; expands NAND business

2013/08/02

Spansion, the NOR flash specialist, has completed its acquisition of Fujitsu’s microcontroller and analogue business.

Spansion is paying $110 million for the business plus $38 million for inventory.

Spansion had Q2 sales of $195.1 million, gross margin of 29.4%, an operating loss of $600,000 and a net loss of $3.2 million.

Thr company is moving into NAND and had $22 million in sales of NAND chips and ‘strong design win momentum.’

The company has $305 million cash.

“We remain the embedded market leader for NOR Flash memory, delivered sequential improvements in margins and profit, and saw strong NAND momentum,” says John Kispert, CEO of Spansion, “we remain confident of our long-term vision and strategy as we enhance our Flash memory product portfolio, protect our IP and add new microcontroller and analog IP and products.”

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