Spansion To Focus On Embedded Market, IP Licensing
Spansion (SPSN) on Wednesday said it plans to pursue a stand-alone strategy focused on the embedded solutions market and intellectual property licensing. The NOR-flash company, which is operating under Chapter 11 of the Federal bankruptcy code, said it will pursue “strategic alternatives” for its wireless business.
The chip company also said it expect to emerge from Chapter 11 “with a sustainable business model aimed at maximizing recovery for creditors, generating free cash flow and profits,” with a run rate of about $1 billion a year.
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