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M&A Deal Summary

Conexant Systems Acquires Hot Rail

On June 29, 2000, Conexant Systems acquired test/measurement equipment company Hot Rail from Needham Capital Partners

Acquisition Highlights
  • This is Conexant Systems’ 1st transaction in the Test/Measurement Equipment sector.
  • This is Conexant Systems’ 2nd transaction in the United States.
  • This is Conexant Systems’ 2nd transaction in California.

M&A Deal Summary
Date 2000-06-29
Target Hot Rail
Sector Test/Measurement Equipment
Buyer(s) Conexant Systems
Sellers(s) Needham Capital Partners
Deal Type Add-on Acquisition

Target

Hot Rail

San Jose, California, United States
Hot Rail, Inc. that designs and markets scalable logic solutions for multiprocessing that address the performance bottlenecks associated with computer and dataflow intensive applications.

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Buyer(S) 1

Buyer

Conexant Systems

Newport Beach, California, United States
Category Company
Sector Semiconductors
DESCRIPTION

Conexant Systems, Inc. is a provider of semiconductor devices for imaging (fax machines and printers) and embedded modem (point-of-sale terminals and set-top-boxes) applications. Conexant’s innovative new product portfolio also includes high-fidelity audio and video surveillance end-markets which leverage its core expertise in analog and mixed-signal design and firmware development. The company is headquartered in Newport Beach, California.

DEAL STATS #
Overall 2 of 2
Sector: Test/Measurement Equipment M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: California M&A 2 of 2
Country: United States M&A 2 of 2
Year: 2000 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-12-01 Pacific Communications Sciences

San Diego, California, United States

Pacific Communications Sciences, Inc. is a developer of wireless communications equipment.

Buy -

Seller(S) 1

SELLER

Needham Capital Partners

New York, New York, United States
Category Private Equity Firm
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Needham Capital Partners is the private equity affiliate of mid-market investment bank Needham & Company. Needham Capital targets investments in clean technology, communications, consumer, financial services, healthcare, semiconductor, enterprise software/storage, networking, and industrial service companies. The Firm prefers to act as the lead investor and has a target investment size of $2 to $10 million. Investment proceeds are typically used to finance growth, or fund management buyouts/recapitalizations. Prospective companies are generally located in the US. Needham Capital Partners is based in New York City, with additional offices in Boston, Menlo Park, and San Francisco.

DEAL STATS #
Overall 16 of 55
Sector: Test/Measurement Equipment M&A 2 of 4
Type: Add-on Acquisition M&A Deals 2 of 31
State: California M&A 7 of 29
Country: United States M&A 16 of 54
Year: 2000 M&A 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-06-22 Ceon

Redwood City, California, United States

Ceon Corp. designs and develops operation support systems (OSS) for the telecommunications industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-07-31 College Enterprises

Woodland Hills, California, United States

College Enterprises, Inc. operates copyright clearance, image processing and communications services on college campuses nationwide.

Sell -
Mergr

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