Gores to Acquire CIM Unit From Texas Instruments
April 6, 1998
LOS ANGELES--(BUSINESS WIRE)--April 6, 1998--Gores Technology Group, a California-based investment firm specializing in acquiring and managing software, Monday announced a definitive agreement to purchase certain assets of the Computer Integrated Manufacturing (CIM) organization of Texas Instruments (NYSE:TXN).
Gores will be purchasing the assets of the ControlWORKS business and WORKS development organization as well as certain other assets associated with the WORKScell products. ControlWORKS is equipment control software designed for use in semiconductor wafer manufacturing equipment with more than 30 customers. "TI has invested a significant amount of money to develop the WORKS product line," said Alec Gores, chairman and chief executive officer of Gores Technology Group. "By focusing significant resources on WORKS, we believe we will make the technology the standard of the industry." WORKS 1.0 is designed to be the next generation of factory automation software for semiconductor wafer fab manufacturing and includes several applications like ProcessWORKS and TrackWORKS. TI is using the software in several wafer fabs and will continue to be a customer. "We are making a serious commitment to serving the semiconductor industry with the standard in factory automation software," Gores said. "And we are gaining some of the most talented software engineers in the industry, whose expertise will be key to our plans to grow this business." With headquarters in Los Angeles, the Gores Technology Group consists of ten interrelated but autonomous computer-related companies focused on hardware and/or software development, distribution, and support services. Much of the company's rapid growth in the 1990s to its current $200 million size has been the result of acquiring and then expanding companies and technologies. It has marketing and distribution resources in the United States, Europe, Asia, and Latin America. "This is a good opportunity for the WORKS operation as Gores has the business focus to take the product to market," said Pallab Chatterjee, chief information officer at Texas Instruments. "We are excited about having this technology in the marketplace." The transaction is expected to be completed by the end of April. At that time, approximately 100 employees associated with the business will transition to an independent company established by Gores and its investors. It is expected that the business will remain in the Dallas area. Terms were not disclosed, and completion of the transaction is subject to various customary closing conditions. CONTACT: Gores Technology Group, Los Angeles James Hale, 310/209-3010