Alliance Semiconductor Announces Agreement to Sell Interest in Solar Ventures
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Alliance Semiconductor Corporation (Pink Sheets:ALSC) today announced
that it has signed an agreement to sell its 73.31% interest in Solar
Venture Partners, L.P. to several funds affiliated with Willowridge and
Thomas Weisel Partners for $5.0 million in cash. Solar Venture Partners
is a venture capital partnership that holds investments in a number of
early stage companies. The transaction is subject to standard closing
conditions, including the consent of the general partner of Solar
Venture Partners. The parties will seek to complete the transaction as
promptly as practicable.
