IXYS Corp. has filed a Schedule 13D with the U.S. Securities and Exchange Commission disclosing its acquisition of 848,256 shares, or approximately 5.0%, of the outstanding common stock of ZiLOG, Inc..
ZiLOG had previously announced on February 4, 2008, that its Board of Directors had turned down an unsolicited, conditional proposal by Universal Electronics, Inc. (UEI) to purchase the company for $4.50 per share. The Board concluded that the UEI proposal did not adequately reflect Zilog’s strategic value or the potential future value enhancements associated with the company’s new growth strategy.
Founded in 1974, ZiLOG is a global supplier of 8, 16 and 32-bit microcontroller and microprocessor "system-on-a-chip" (SoC) solutions that allow design engineers the freedom and creativity required for continued innovation in embedded design. The company designs, develops and markets a broad portfolio of devices for embedded control and communication applications used in consumer electronics, home appliances, security systems, point of sales terminals, personal computer peripherals, as well as industrial and automotive applications. ZiLOG is headquartered in San Jose, California, and employs approximately 500 people worldwide with sales offices throughout Asia, Europe and North America.
