Mergers and Acquistions News
Categories: Semi-Conductors
November 13th 2008, 16:06PM
Actel should divest its flash-based field programmable gate array (FPGA) semi-conductor line, according to one investor.
In a letter to the firm's chief executive John East, Ramius - which holds 7.9 per cent of Actel's common stock - urged the company to either refocus its flash FPGA activities or get rid of them altogether, reports EE Times.
The document expressed the investor's belief that the substantial losses experienced by Actel's flash segment are the reason behind the valuation gap in the company's shares.
A total of three alternatives were suggested - reducing expenses by narrowing the focus of the business to core end markets only, exploring a joint venture "with a large competitor who can offer research and development and marketing" or simply divesting the arm.
Founded in 1985, Actel currently employs more than 500 people who serve over 3,500 customers across the globe.
It targets a range of markets including communications, military and aerospace.
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