Opti announced late Wednesday a possible deal to sell its systems logic group had fallen through. The Milpitas, Calif., company has been in discussions for the past three months with an unnamed potential buyer, and even received an offer for the business unit, but that offer was withdrawn.
Bernard Marren, president and CEO of Opti, said he did not know why the offer was withdrawn. However, he did say rumors of the deal had reached some of the company's shareholders.
After reporting poor earnings last year, Opti OPTI retained an investment banking firm earlier this year to help sell either all or some part of the firm. Marren said he is in discussions with other companies that may be interested in acquiring some of Opti's assets, though he declined to name them.