Transmeta up for sale

Directly after CPU designer Transmeta reached a legal agreement with Intel over its intellectual property and patents, the company announced that it was up for sale. The agreement involves Intel making a one-time payment to the tune of $91.5 million to Transmeta, as well as annual payments of $20 million over the next four years. Transmeta president and CEO Les Crudele noted that post-deal, the company will be "attractive to potential bidders" with Transmeta looking forward to maximizing value to stockholders. According to the New York Times, Piper Jaffray has been hired to find a suitor. A sad end to an innovative chip company that, once upon a time, looked set to challenge the likes of Intel and AMD in the PC processor market.

To read up more about this story:
- check out this eWeek article