die in Frankfurt Schnarchnasen?
3Dlabs Signs Definitive Agreement to be Acquired by Creative
Technology
MONDAY, MARCH 11, 2002 7:29 AM
- BusinessWire
HAMILTON, Bermuda, Mar 11, 2002 (BUSINESS WIRE) -- 3Dlabs(R), Inc. Ltd.
(TDDD) , announced today that it has signed a definitive agreement with Creative
Technology Ltd. (CREAF) to be acquired in a stock and cash transaction. Subject
to the terms and conditions described below, Creative will purchase 3Dlabs stock
at $3.60 per share, with two-thirds being converted to Creative stock and one-third
to cash, valuing the company at approximately $170 million.
The companies expect that the combination of 3Dlabs' technology and Creative's
manufacturing, financial and distribution resources will enhance the development of
3Dlabs' planned products, which includes an anticipated re-entry into the volume
desktop graphics market. Creative, a shareholder of 3Dlabs, has enjoyed a close
relationship with 3Dlabs since the company's inception in 1994. The two
companies jointly launched the industry's first 3D gaming board in 1995 and
enjoyed significant mutual success with the Permedia 2 family of graphics
processors.
3Dlabs will continue to supply, support and develop all of its product lines, including
Wildcat(R) and Oxygen(R), with no expected disruption in supply to any of its
customers. 3Dlabs will also continue to supply and support its chip and IP
products to its embedded customers and will carry on its industry-leading
standardization activities with OpenGL(R) 2.0, OpenML(TM) and embedded
OpenGL in the Khronos Group and the Web3D Consortium.
"We see great opportunities to leverage 3Dlabs' high-end professional market
leadership into higher volume PC desktop products that satisfy power gamers'
insatiable demand for faster graphics," said Sim Wong Hoo, Chairman and CEO of
Creative. "We have analyzed 3Dlabs' forthcoming products and technology
roadmap and we believe that their development of a scalable visual processing
architecture with new levels of programmability and flexibility will provide a
significant competitive advantage in the graphics space. The technological
breakthroughs that 3Dlabs has achieved to date, coupled with the strong market we
see for high-performance graphics processors, provide a tremendous growth
opportunity for our company."
"We are very excited about the opportunity provided by Creative's worldwide
distribution network, huge customer base, world-famous brands, and financial
resources to maximize the technology we produce," said Osman Kent, Chairman
and CEO of 3Dlabs. "Integrating the resources and expertise of these two
industry-leading companies can create a truly potent force in the graphics market."
Kent continued, "The timing of this acquisition is fortuitous, as we are close to
releasing the most exciting high-performance graphics lineup in our history. We
have experienced a difficult financial period during which we continued to devote
significant resources to the development of our breakthrough technologies. Creative
can provide us the resources and opportunity to expand our leadership position
beyond the high end professional graphics market. We can leverage Creative's vast
experience at building global brands and market share to take full advantage of the
market potential for our upcoming release of an exciting new family of graphics
processors for the desktop."
Under the terms of the agreement, unanimously approved by Boards of Directors of
both companies, 3Dlabs shareholders will receive $1.20 in cash and Creative
ordinary shares with a value of $2.40 (such shares generally to be valued based on
the average closing price on NASDAQ for the 10 trading days ending on the fifth
trading day prior to the 3Dlabs' shareholder meeting to approve the transaction) for
each share of 3Dlabs. Closing of the transaction is subject to the approval of
3Dlabs shareholders, expiration of the U.S. HSR antitrust waiting period and other
customary closing conditions.
Letzter gehandelter Kurs 3,60 Euro...
Gruß Doc Broemme
3Dlabs Signs Definitive Agreement to be Acquired by Creative
Technology
MONDAY, MARCH 11, 2002 7:29 AM
- BusinessWire
HAMILTON, Bermuda, Mar 11, 2002 (BUSINESS WIRE) -- 3Dlabs(R), Inc. Ltd.
(TDDD) , announced today that it has signed a definitive agreement with Creative
Technology Ltd. (CREAF) to be acquired in a stock and cash transaction. Subject
to the terms and conditions described below, Creative will purchase 3Dlabs stock
at $3.60 per share, with two-thirds being converted to Creative stock and one-third
to cash, valuing the company at approximately $170 million.
The companies expect that the combination of 3Dlabs' technology and Creative's
manufacturing, financial and distribution resources will enhance the development of
3Dlabs' planned products, which includes an anticipated re-entry into the volume
desktop graphics market. Creative, a shareholder of 3Dlabs, has enjoyed a close
relationship with 3Dlabs since the company's inception in 1994. The two
companies jointly launched the industry's first 3D gaming board in 1995 and
enjoyed significant mutual success with the Permedia 2 family of graphics
processors.
3Dlabs will continue to supply, support and develop all of its product lines, including
Wildcat(R) and Oxygen(R), with no expected disruption in supply to any of its
customers. 3Dlabs will also continue to supply and support its chip and IP
products to its embedded customers and will carry on its industry-leading
standardization activities with OpenGL(R) 2.0, OpenML(TM) and embedded
OpenGL in the Khronos Group and the Web3D Consortium.
"We see great opportunities to leverage 3Dlabs' high-end professional market
leadership into higher volume PC desktop products that satisfy power gamers'
insatiable demand for faster graphics," said Sim Wong Hoo, Chairman and CEO of
Creative. "We have analyzed 3Dlabs' forthcoming products and technology
roadmap and we believe that their development of a scalable visual processing
architecture with new levels of programmability and flexibility will provide a
significant competitive advantage in the graphics space. The technological
breakthroughs that 3Dlabs has achieved to date, coupled with the strong market we
see for high-performance graphics processors, provide a tremendous growth
opportunity for our company."
"We are very excited about the opportunity provided by Creative's worldwide
distribution network, huge customer base, world-famous brands, and financial
resources to maximize the technology we produce," said Osman Kent, Chairman
and CEO of 3Dlabs. "Integrating the resources and expertise of these two
industry-leading companies can create a truly potent force in the graphics market."
Kent continued, "The timing of this acquisition is fortuitous, as we are close to
releasing the most exciting high-performance graphics lineup in our history. We
have experienced a difficult financial period during which we continued to devote
significant resources to the development of our breakthrough technologies. Creative
can provide us the resources and opportunity to expand our leadership position
beyond the high end professional graphics market. We can leverage Creative's vast
experience at building global brands and market share to take full advantage of the
market potential for our upcoming release of an exciting new family of graphics
processors for the desktop."
Under the terms of the agreement, unanimously approved by Boards of Directors of
both companies, 3Dlabs shareholders will receive $1.20 in cash and Creative
ordinary shares with a value of $2.40 (such shares generally to be valued based on
the average closing price on NASDAQ for the 10 trading days ending on the fifth
trading day prior to the 3Dlabs' shareholder meeting to approve the transaction) for
each share of 3Dlabs. Closing of the transaction is subject to the approval of
3Dlabs shareholders, expiration of the U.S. HSR antitrust waiting period and other
customary closing conditions.
Letzter gehandelter Kurs 3,60 Euro...
Gruß Doc Broemme
