Tuesday, May 27, 2008

MathStar Shuts Down Operations

Hillsboro, Oregon-based MathStar, a provider of programmable logic and semiconductors, said Tuesday that it plans to discontinue its field programmable object array chip development and board-level systems development businesses. The firm, which said last week that it has hired an investment banker to explore "strategic alternatives," said the move came to "preserve the Company's assets." The firm did not say how many employees were affected, but the company said that the company's CEO and CFO and "several other employees" will remain with the company to wind down its business. The firm will take a $4.1M charge for the shutdown.