Zoran Corporation Announces Completion of Oren Semiconductor Acquisition

Sunnyvale, Calif., June 10 /PRNewswire-FirstCall/ -- Zoran Corporation today announced the completion of its acquisition of Oren Semiconductor, a leading provider of demodulator ICs for the global high definition television market.
Under the terms of the agreement, Zoran has acquired Oren’s remaining outstanding stock for $44.6 million in cash and stock. Zoran’s ownership from previous investments in Oren equated to a 17 percent share prior to the acquisition. The transaction has met all applicable regulatory approvals and other customary closing conditions.