Sun Microsystems is negotiating to buy Montalvo Systems, the super-secretive chip start-up that has concocted a chip for portables, according to sources.
The deal follows a major round of layoffs at Montalvo. We heard the rumor of the layoffs yesterday and subsequently heard the cuts started. The company, which had earlier raised $73 million, has been seeking around $100 million from additional investors. Investors, though, have shied away.
Neither Sun nor Montalvo has confirmed the negotiations or the state of the transaction. Any deal may fade away before anything gets signed. But this is what we know at the moment … Read more