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DSP Group acquires intellectual property from Bermai, a WiFi technology developer
December 8, 2004
SANTA CLARA, Calif. -- DSP Group, Inc. (Nasdaq: DSPG), a worldwide leader in developing and providing chipsets solutions for residential wireless connectivity, announced that it has acquired substantially all of the assets of Bermai Inc., a privately owned company formed to develop advanced WiFi technology based on 802.11 (a, b, g & e) standards. These developed technologies offer extended coverage and high Quality of Service ("QoS"). The assets purchased by DSP Group consisted mainly of intellectual property.
In line with the Company's strategy and focus to provide a complete short range residential wireless offering, DSP Group plans to further develop and offer chipsets for voice, data and video applications with high quality of service and improved ranges over WiFi networks.
In connection with the acquisition, former employees of Bermai Inc., who became non-executive officer employees of DSP Group following the acquisition, were granted employment inducement stock option grants to purchase a total of 239,000 shares of DSP Group common stock. These option grants have an exercise price of $22.67 per share and will vest over a period of four years. The option grants meet the "employment inducement award" provisions of NASDAQ's listing standards regarding stockholder approval of equity-based inducement incentive awards.
DSP Group Inc.
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