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In March 2015, Cypress and Spansion completed of the transactions of the merger in an all-stock, tax-free transaction valued at approximately $5 billion. Cypress shareholders approved the issuance of 2.457 shares of Cypress stock to Spansion shareholders for each Spansion share they own.
Cypress Semiconductor (CY) closed at $12.16 in the latest trading session, marking a -1.22% move from the prior day. Cypress Semiconductor (CY) Stock Moves -1.22%: What You Should Know Skip to ...
He is the founder of Cypress Semiconductor and holds patents ranging from semiconductors to energy to winemaking. Rodgers is known for his public relations acumen, brash personality, and strong advocacy of laissez-faire capitalism. He stepped down as Cypress CEO in April 2016 and Director in August 2016 after serving for 34 years. [2]
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The companies valued the deal at $4 billion. They expected it to close in the first half of 2015 and to cut annual costs by $135 million within three years. Cypress President and CEO TJ Rodgers was the CEO of the combined company, which was expected to have $2 billion in annual revenue. Spansion Chairman Ray Bingham was the non-executive chairman.
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SunPower founder Richard Swanson's former classmate, T.J. Rodgers, was the CEO of Cypress Semiconductor and took an interest in investing in the company. [7] At first, the Cypress board wasn't willing to invest, so Rodgers invested $750,000 of his own money. [8]
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