INSIDE
INSIDE Contactless contactless secure transaction chip technologies has completed the acquisition of Atmel Corporation’s Secure Microcontroller Solutions (SMS). INSIDE paid $32 million in cash after an adjustment based on the working capital of the transferred business at the closing on September 30, subject to an additional cash consideration of up to $21 million if certain earn-out targets are met in 2010 and 2011. The agreement also provides INSIDE a royalty-based, intellectual property license agreement to support current and future SMS products. In addition, INSIDE entered into a multi-year supply agreement to continue sourcing wafers from the fabrication facility in Rousset, France that Atmel recently sold to LFoundry GmbH.