Press Release

Cooley Advises Entropic on Trident Microsystems Assets Bid

February 27, 2012

New York – February 27, 2012 – Entropic Communications, Inc. today announced that it has been declared the "Successful Bidder" to purchase certain assets of Trident Microsystems' set-top box (STB) system on a chip (SoC) business in connection with Trident's Chapter 11 bankruptcy filing on January 4, 2012.  Entropic's $65 million bid is scheduled for approval by the United States Bankruptcy Court for the District of Delaware on March 6, 2012.  The transaction, which provides an important strategic opportunity for Entropic, a leading provider of silicon and software solutions to enable connected home entertainment, is expected to close prior to the end of the first quarter of 2012. 

A national Cooley team led by partner Barbara Borden, San Diego-based head of the firm's Mergers & Acquisitions practice and Cathy Hershcopf, a partner in the firm's New York-based  Bankruptcy & Restructuring group, advised Entropic.  Other attorneys closely involved in this deal were Palo Alto-based Technology Transactions group partner Robin Lee, Palo Alto-based Employment partner Lois Voelz, special counsel Eric Kauffman and Rama Padmanabhan, and associates Wade Andrews, Nadya Bodansky, Michael Klein, Scott Tanner and Alex Velinsky.

In 2011, Cooley's M&A practice advised on more than 141 completed acquisitions for an aggregate deal value in excess of $9.5 billion, and has begun 2012 strongly, advising Micromet in January on the $1.16 billion cash tender offer by Amgen and serving as U.S. co-counsel to URS on its $1.25 billion acquisition of Calgary-based Flint Energy Services Ltd.

With more than 150 active cases, Cooley is one of the top 10 U.S. legal advisors on bankruptcy and restructuring matters, according to leading business publication The Deal.  Cooley represents secured lenders, official and unofficial creditors' committees, equity committees, employee and retiree committees, tort committees, investors in distressed situations, purchasers of assets, debtors and companies and governmental entities in the negotiation of complex reorganizations.

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