Golden Gate Capital Signs Acquisition Agreement with Conexant Systems

Gold Holdings, Inc., an affiliate of Golden Gate Capital, today announced the signing of a definitive merger agreement with Conexant Systems, Inc.

. Gold Holdings, Inc. has agreed to purchase all of the outstanding shares of Conexant common stock at a price of $2.40 per share in cash. The transaction is expected to close in the second quarter of calendar 2011 subject to the satisfaction of regulatory requirements, approval by Conexant stockholders and other customary closing conditions.