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Galaxy Semiconductor Acquires Quantix Business from Siemens

29Jun By AdityaNo Comments

ACQUISITION

Galaxy Semiconductor Acquires Quantix Business from Siemens

MENLO PARK, Calif., June 29, 2020 -- Galaxy Semiconductor acquire substantially all of the assets of the Quantix Business from Mentor Graphics Corporation, a Siemens-owned business. The acquisition will allow Galaxy to re-establish itself as the premier independent provider of test data management and analysis solutions for the semiconductor industry. The transaction is expected to close in a few weeks. The terms of the deal are not being disclosed. "We chose to continue with the Galaxy name because of the many years of history and the strong reputation that it enjoys in the semiconductor industry," said Philippe Lejeune, Board Chairman and CTO of the newly formed company. "I'm looking forward to leading this great team to design and build amazing new products that address diffic...

Siemens will cut off 10,000 Jobs amid Slowdown

German industrial equipment and technology supplier Siemens AG says net profit fell 5 per cent in the first three months of the year as the company heads into a major restructuring involving the spinoff of its oil, gas and power generation business. The company said Wednesday that net profit was 1.92 billion euros (USD 2.15 billion), down from 2.02 billion a year earlier, when earnings were boosted by 900 million euros by a share transfer. Revenue rose 4 per cent to 20.93 billion euros. The news comes after Siemens said late Tuesday it would spin off its division that makes power turbines while cutting costs at its remaining businesses. The company said it would drop 10,400 jobs but expected to create 20,500 more through growth through 2023, leading to a n...

Know Why Television Media Firm NDTV Is Firing 25% Of Its Employees

The layoff trend has reached India now! We recently witnessed international companies like Teva, ESPN, GE and Siemens laying off a considerable number of employees. Now an Indian media firm NDTV added its name to the list. As per the filings in stock exchange, the television media firm will be firing 25 percent of its total task-force by the next month as it plans on focusing on English and Hindi news and digital content business solely. "The strategy we are adopting calls for a far leaner operation which will feed only our core business: our English and Hindi news channels, and NDTV Convergence and its digital teams that run our news and other apps and websites," the statement filed by NDTV said. NDTV will be minimizing its ancillary business that NDTV worked hard to expand over a sp...