ARC, Virage Logic "a done deal" says CFO

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ARC, Virage Logic "a done deal" says CFO

John Walko
EE Times
10/12/2009 4:37 PM

LONDON — Shares in ARC International plc (St Albans, England), the specialist licensor of configurable processor cores, are set to be delisted from the London Stock Exchange early next month, following Virage Logic's offer going unconditional last month.

"Just over 92 percent of the shares have now been acquired, with the rest set to be swept up. So it is a done deal," ARC's chief financial officer Charles Rendell told EE Times .

ARC shares were quoted at 16p on the LSE Monday.

Virage Logic (Fremont, Calif.) announced August it would buy ARC, with the all-cash transaction valuing the company at about £25.2 million (approximately $41 million) on a fully-diluted basis.

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