I was just informed about my previous employer’s (Conexant) sudden stock price hike.
Checked the news and read about the sale of their broadband access division to Ikanos.
Ikanos is headed by CEO Michael Gulett.
Who once was the president and COO of Virata Corporation!
Sounds like he’s buying back his own stuff, from before his disastrous ‘merge’ with Globespan, the company that then went on to buy Intersil’s (also a previous employer of mine) Wireless Division (Harris’s spun-off semiconductor division), and then later ‘merged’ *cough* with Conexant.
So now Conexant is selling the stuff back to the ex-Virata president’s company! Ha!
Dang, there’s a lot of hot potato-ing going on in the semiconductor industry, these days (years!).