6/12/2002 - MoSys, Inc. (NASDAQ: MOSY), the industry's leading provider of high density System-on-a-Chip (SoC) embedded memory solutions, announced today that it has entered into an agreement to acquire ATMOS Corporation and that the board of directors of both companies have approved the transaction. ATMOS Corporation is a Canadian company that also offers embedded memory solutions for SoC applications. MoSys will pay approximately $10 million in cash together with an earn out arrangement of under $4 million for employee shareholders using MoSys stock. It is expected that the closing will occur in late June or early July of this year and will be subject to normal closing conditions. After the closing, MoSys anticipates hosting a conference call in which it will present a more detailed discussion of the acquisition and its implications. Details of the conference call will be announced later. Dr. Fu-Chieh Hsu, Chairman and CEO of MoSys stated, "ATMOS has an experienced embedded memory technology team and we are pleased they will further strengthen our engineering resource. In addition ATMOS' expertise in memory compiler technology, will extend the range of our 1T-SRAM® embedded memory product offerings. This acquisition allows us to accelerate our planned engineering expansion, which will enable us to provide the best possible support to our expanding customer base."
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