Pixelworks in $109 Million Equator Acquisition

Cleary Gottlieb is representing Citigroup Global Markets as financial advisor to Pixelworks in its proposed acquisition of Equator Technologies.  The all-cash transaction, valued at approximately $109 million, is expected to close in the second quarter of this year.

Equator, a privately held fabless semiconductor company, is a leading provider of programmable digital video encoding and decoding solutions.  Fabless semiconductor companies do not manufacture their own silicon wafers, concentrating instead on the design and development of semiconductor chips.