COMPANY PRESS RELEASE: GlobeSpan, and Virata Corporation has announced that on Friday, December 14, 2001, their respective stockholders approved the previously announced merger between GlobeSpan and Virata, and that the merger closed subsequent to receiving such stockholder approval.
Stockholders of GlobeSpan also approved changing the legal name of the company to GlobeSpan Virata, Inc. The company will be known as GlobespanVirata and will trade on the Nasdaq National Market under the symbol GSPN.
With our stockholders’ approval and the closing of our merger, GlobespanVirata is positioned to realize the full potential of our enhanced scale and global market presence, said Armando Geday, GlobespanVirata’s CEO. GlobespanVirata’s DSL product line and deep engineering resources are second to none in the industry. Our expanded customer support capabilities and world-class system level expertise will enable us to offer unmatched individualized market support.
Charles Cotton, Executive Chairman, added, All of us at GlobespanVirata are thrilled with the rapid, successful completion of our merger and feel we have today taken a significant step toward fulfilling our vision of becoming the world’s premier broadband communications semiconductor and software systems provider.