Wednesday, February 13, 2008

Simtek Hires Investment Bank

Memory chip manufacturer Simtek Corp. revealed Wednesday that it has hired an investment bank to advise its board regarding Cypress Semiconductor Corp.'s expressed desire to acquire the company. Cypress--which now owns nearly 19 percent of Simtek--offered to buy the firm last week. Harold A. Blomquist, Simtek's president and chief executive officer, said the company chose Pagemill Partners LLC because of their previous working relationship. Pagemill represented Simtek during its 2005 acquisition of ZMD. Headquartered in Colorado Springs, Simtek produces nonvolatile static random access memory, or nvSRAM, integrated circuits for use in various systems, including RAID servers, industrial controllers, robotics, copiers, avionics and broadcast equipment.