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Article: JDS Uniphase Sells Raleigh, N.C.-Area Chip Maker Cronos at Big Loss.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 2, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Dan Egbert, The News & Observer, Raleigh, N.C. Knight Ridder/Tribune Business News
Aug. 2--RESEARCH TRIANGLE PARK, N.C.--Two years ago JDS Uniphase bought chip maker Cronos for $565 million.
Thursday the company sold Cronos for $9.3 million to a French technology company.
The manufacturing operations for Cronos' micro-electro-mechanical systems, or MEMS, chips will be transferred from Research Triangle Park to the European facilities of the buyer, MEMSCAP, which also specializes in MEMS technology. About 50 of the 80 Cronos employees will be laid off, and the remaining 30 engineers and sales and marketing employees will remain in the ...