January 23, 2018 / 9:51 PM / in 6 months

BRIEF-Sigma Designs Plans To Sell Z-Wave Business For $240 Million

Jan 23 (Reuters) - Sigma Designs Inc:

* PRESS RELEASE - SIGMA DESIGNS, INC. ANNOUNCES PLAN TO SELL ITS Z-WAVE BUSINESS FOR $240 MILLION

* SIGMA DESIGNS INC - ‍SALE OF Z-WAVE BUSINESS FOR GROSS PROCEEDS OF $240 MILLION IN CASH​

* SIGMA DESIGNS INC - INTENDS TO INITIATE A PLAN OF LIQUIDATION FOLLOWING CLOSING OF ASSET TRANSACTION

* SIGMA DESIGNS INC - PLAN OF LIQUIDATION ANTICIPATED TO INCLUDE A SUBSTANTIAL INITIAL CASH DISTRIBUTION TO SHAREHOLDERS

* SIGMA DESIGNS INC - ‍DEUTSCHE BANK IS SERVING AS FINANCIAL ADVISOR TO SIGMA DESIGNS​

* SIGMA DESIGNS INC - INTENDS TO WIND DOWN OR DIVEST ITS REMAINING BUSINESSES OVER NEXT 12 MONTHS

* SIGMA DESIGNS - INITIATED ACTIONS TO PRESERVE AMOUNT OF CASH AVAILABLE TO SHAREHOLDERS, INCLUDING WIND-DOWN PROCESS FOR SMART TV & SET-TOP BOX BUSINESS

* SIGMA DESIGNS INC - WINDING-DOWN PROCESS FOR ITS SMART TV AND SET-TOP BOX BUSINESS WILL REDUCE SUCH BUSINESS' WORKFORCE FROM 416 TO 120 EMPLOYEES Source text for Eikon: Further company coverage:

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