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Eye On Business
SCIENCE APPLICATIONS INTERNATIONAL COMPANY (San Diego, CA) has acquired ATLANTIC COAST TELESYS (Hanover, MD; Quantico, VA). Atlantic Coast Telesys, an IT firm specializing in DSPs, software and hardware enginering and Web portal development which employs approximately 200 people, will become part of SAIC?s Advanced Technologies and Solutions Group in McLean, VA. Financial terms were not disclosed. It is the second acquisition of a Washington, D.C.-area acquisition. In recent months. In September, the company bought JULLIEN ENTERPRISES (Chantilly, VA), A manufacturer of video systems, perimeter protection systems and security control centers.
According to the WORLD SEMICONDUCTOR TRADE STATISTICS GROUP (San Jose, CA), semiconductor sales were up 4.5% in November from the previous month. Global sales of semiconductors grew to $15.1 billion ? a 25.7% increase a year earlier. The industry saw four straight months of growth. In the months of June and July, sales rose by 10%. According to investment bank J.P. Morgan, the final 2003 figure should be $166.4 billion ? a projected 18% increase over 2002.
The Israeli company ELBIT VISION SYSTEMS LTD. has completed a series of private equity investments in the company for an aggregate sum of approximately $2.3 million. The investment was made by a group of new shareholders led by MEITAV CAPITAL, the investment banking arm of the Meitav Group.
IBIS TECHNOLOGY CORPORATION (Danvers, MA) has revised its wafer sales figure for the quarter ended December 31, 2003. Sales are expected to be between $1.0 and $1.1 million. The company has learned that a purported class action lawsuit has been filed December 29 in the United States District Court in the District of Massachusetts. The lawsuit names both the company and President/ CEO Martin J. Reid as defendants, as it relates to certain recent disclosures in the company. The plaintiffs are seeking unspecified damages. In a statement, the company said, "Ibis Technology believes the action is without merit, and it intends to vigorously defend against the suit."LEARN MORE
Atlantic Coast Telesys
Elbit Vision Systems Ltd
Ibis Technology Corporation
Science Applications International Company
World Semiconductor Trade Statistics Group
www.wsts.org Handshakes & Signatures
VITESSE SEMICONDUCTOR CORPORATION Camarillo, CA) has announced a definitive agreement to acquire all of the outstandimng equity interests of CICADA SEMICONDUCTOR CORPORATION (Austin, TX) for approximately $66 million in cash. Vitesse designs and manufactures silicon solutions used in the networking, communications and storage industries worldwide. Cicada is a supplier of DSP-based integrated circuit solutions to developers of high-speed communications systems used in LANs.