Oak Hill & Tallwood Buy Cypress SVTC

Cypress Semiconductor Corp. (NYSE:CY) has agreed to sell its Silicon Valley Technology Center business to Oak Hill Capital Partners and Tallwood Venture Capital for approximately $53 million in cash. The transaction is expected to close by early March. SVTC gives startups and established companies the opportunity to develop and characterize novel silicon-based technologies cost effectively using a shared R&D environment. www.svtc.com