Semtech, an analog and mixed-signal semiconductor supplier, has agreed to divest its Snowbush IP business to Rambus for US$32.5 million. Snowbush was part of Semtech’s Systems Innovation Group.
Snowbush’s intellectual property is developed in design centres in Toronto (Canada), San Jose (California), Aguascalientes (Mexico) and Bhubaneswar (India).
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The divestment is part of a global deal between Semtech and Rambus, which is expected to close in 2017. The deal allows Semtech to focus on its core business and Rambus to return to its main business as a chip supplier.
Luthra & Luthra advised Semtech on all aspects relating to the India leg of the Snowbush transaction, including the transfer of employees, appointment and removal of directors, and preparation of documents to effect these changes. The team comprised partner Kanchan Sinha and associates Kaustubh Verma, Sonika Bajpeyee and Sanya Parmar. Partner Anshul Jain, senior associate Vivek Agarwal and associate Kundan Rathore advised on compliance-related matters.
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