Microchip has actually bought Atmel.
You know what is going to happen? Well, according to the press statement published on their website, they offer the following golden nuggets:
"Microchip also announced that Atmel’s sales and earnings for the quarter ending March 31, 2016 are expected to be significantly lower than Atmel’s December 31, 2015 quarterly results."
"Steve Sanghi, Microchip’s Chairman and CEO said, “The performance of Atmel since we engaged in discussions in August of 2015 has been disappointing."
"We understand Atmel’s business well and we plan to rapidly integrate Atmel into Microchip, grow its sales, improve its gross margin percentage, bring down operating expenses and improve profitability."
In other words, layoffs, plant closures and phasing out of Atmel's product line.
You know what is going to happen? Well, according to the press statement published on their website, they offer the following golden nuggets:
"Microchip also announced that Atmel’s sales and earnings for the quarter ending March 31, 2016 are expected to be significantly lower than Atmel’s December 31, 2015 quarterly results."
"Steve Sanghi, Microchip’s Chairman and CEO said, “The performance of Atmel since we engaged in discussions in August of 2015 has been disappointing."
"We understand Atmel’s business well and we plan to rapidly integrate Atmel into Microchip, grow its sales, improve its gross margin percentage, bring down operating expenses and improve profitability."
In other words, layoffs, plant closures and phasing out of Atmel's product line.