The recent announcement of a proposed merger between Irish company Parthus Technologies, quoted on both the London Stock Exchange and Nasdaq, and Ceva, the intellectual property licensing business of the Nasdaq-listed DSP Group, is one of the most significant and interesting developments for any publicly quoted Irish technology company in recent times.
The merged entity will be called ParthusCeva and will be quoted on the London and Nasdaq Exchanges. The deal is to be implemented as a scheme of arrangement under Section 201 of the Irish Companies Act 1963 and also involves a capital reduction and repayment under section 72 of that act. Quite apart from the unique commercial aspects of the merger, the transaction will create a number of firsts in the legal and regulatory framework in Ireland.
