Palo Alto, CA – October 13, 2009
Woodside Capital Partners LLC is pleased to announce that it acted as financial advisor to publicly held ARC International plc (LSE: ARK) in its recent sale to Virage Logic Corporation (NASDAQ:VIRL). The all-cash transaction values ARC at 16.25 pence per share, or an equity value of approximately £25.2 million ($41.0 million) on a fully-diluted basis.
About ARC International plc
ARC International is a leading provider of customizable Solution to Silicon IP to consumer and semiconductor companies globally. ARC’s award-winning, vertically integrated audio and video solutions enable high quality multimedia content to be captured, shared, and played on a wide range of electronics devices. ARC has over 150 customers which, in aggregate, ship hundreds of millions of ARC-Based™ chips annually in products such as mobile televisions, portable media players, WiFi/WiMAX-enabled computers, flash storage, digital cameras, network appliances, and medical and government systems. ARC International maintains a worldwide sales presence with corporate and research and development offices in San Jose and Lake Tahoe, Calif., and St. Petersburg, Russia. ARC International is listed on the London Stock Exchange as ARC International plc (LSE: ARK).
About Virage Logic
Virage Logic is a leading provider of semiconductor intellectual property (IP) for the design of complex integrated circuits. The Company’s highly differentiated product portfolio includes embedded SRAMs, embedded NVMs, embedded memory test and repair, logic libraries, memory development software, and interface IP solutions. As the industry’s trusted semiconductor IP partner, foundries, IDMs and fabless customers rely on Virage Logic to achieve higher performance, lower power, higher density and optimal yield, as well as shorten time-to-market and time-to-volume.
About Woodside Capital
Woodside Capital Partners International LLC is an investment banking firm, with offices in Silicon Valley and London, specializing in Merger & Acquisitions for emerging growth technology companies. All securities activities are conducted through 3C-WC Partners LLC, a registered broker-dealer and member of SIPC and FINRA. Woodside Capital Partners, LLC and 3C-WC Partners, LLC are affiliated companies.