VeriSilicon Microelectronics to acquire Pixelworks Semiconductor Technology from Pixelworks for $133m.

VeriSilicon Microelectronics, a platform-based, all-around, one-stop custom silicon services and semiconductor IP licensing services provider, agreed to acquire Pixelworks Semiconductor Technology, a manufacturer and distributor of semiconductor products, from Pixelworks, a semiconductor manufacturing company, for $133m. "This executed definitive agreement to sell the Company's controlling interest in our Pixelworks Shanghai subsidiary is the result of our previously communicated, extensive strategic review process. We believe the proposed transaction represents the optimal path forward for Pixelworks, Inc., as well as the Pixelworks Shanghai business, while also capturing the maximum realizable value for all of the Pixelworks Shanghai shareholders. As such, we look forward to receiving approval of the sale by our shareholders in the coming months with the goal of closing the transaction by year end," Todd DeBonis, Pixelworks President and CEO.