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TXCC Snags Design Firm
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Business New Haven
3/5/2001
By: BNH
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SHELTON - TranSwitch Corp. (NASDAQ: TXCC) February 20 announced the acquisition of privately held Horizon Semiconductors Inc., a design firm that specializes in test and diagnostics engineering services. The transaction will be accounted for as a purchase. In connection with the acquisition, TranSwitch issued 43,507 shares of its common stock, a portion of which will be released upon the attainment of predetermined goals, and paid approximately $454,000 in cash. Horizon will operate as a wholly owned subsidiary of TranSwitch. Horizon employees will be relocated to TranSwitch's Boston Design Center in Stoneham, Mass.
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