Entropic explores potential sale Entropic is looking at strategic alternatives for its business in the wake of recent revenue declines San Diego’s Entropic, a long-time fixture in the local tech scene, said Tuesday it has hired financial adviser Barclays to explore “strategic alternatives,” which is a business euphemism for selling the company. In addition, Entropic lowered its financial guidance for the third quarter, saying it now expects sales of about $43 million, down from its previous outlook of $49 million and $51 million. Founded in 2001, Entropic provides signal processing technology used by satellite TV and cable companies. It intends to consider a wide range of options with investment bank Barclays, though it didn’t provide details. Entropic went public in 2007 but has struggled recently amid tough market conditions. In June, it cut its global workforce by 23 percent and said at the time it expected to end the year with 500 employees worldwide – including 235 in San Diego. “Our board of directors and management are committed to taking the appropriate steps to enhance value for Entropic shareholders and we have determined that undertaking a thorough and deliberative evaluation of strategic alternatives, with the assistance of financial advisers, is in the best interests [...] newsinca/entropic-explores-potential-sale/
Posted on: Tue, 16 Sep 2014 23:31:03 +0000
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