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Freescale Semiconductor, Inc. (, ) is an American semiconductor manufacturer. It was created from the semiconductor product sector of Motorola during 2004. Freescale focuses on the embedded and communications markets for their chips. Freescale is among the Worldwide Top 20 Semiconductor Sales Leaders. Motorola announced the spinoff on October 62003. Freescale completed its IPO on July 162004 and is now trading on NYSE under the symbol FSL. Freescale has also been a source of PowerPC microprocessor chips for Apple Computer's PowerBooks and Mac mini products until the Apple Intel transition in 2006. In 2006 the business developed a microchip which stores information like hard drives. The chip, called magnetoresistive random-access memory (MRAM), contains data by relying on magnetic properties instead of an electrical charge. Freescale started commercial shipments of the 4-Mbit MRAM on July 10, 2006, with small volume sales priced at $25 per chip.
Buyout On Friday, September 15, 2006 Freescale agreed to be bought out for the sum of $17.6 billion by a consortium led by Blackstone Group LP. Share prices of $13 at the July 2004 IPO had risen to $39.35 in afterhours trading that Friday when the news, rumored that week, broke. The deal includes an unusual provision that Freescale may seek even greater offers in the next 50 days, but the acceptance of any such offer would require a breakup payment to Blackstone Group. * * * * | |||||||||||||||||||||||||||||||
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