SMSC buys out Japan stake

January 14, 2004 – Standard Microsystems Corp. has purchased the minority interest in SMSC Japan held by Sumitomo Metal Industries Ltd. for approximately $5.1 million.

SMSC Japan will become a wholly-owned subsidiary of SMSC, which previously owned 20% of the firm’s common stock and all of the non-voting 6% preferred stock. SMSC Japan accounts for about 20% of SMSC’s revenues.


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