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Spansion Inc, which was previously traded on the NASDAQ stock exchange under the ticker symbol "CODE," was a leading provider of embedded systems solutions. However, in 2015, Cypress Semiconductor Corporation acquired Spansion in a deal valued at approximately $4 billion. As a result, Spansion is no longer a publicly traded company.
Before the acquisition, Spansion's primary focus was on the design, manufacture, and sales of flash memory solutions for the automotive, industrial, communication, and consumer markets. The company was known for its innovative products and technology, including its MirrorBitĀ® NOR flash memory and SpansionĀ® SATA NAND solutions.
In its last quarterly earnings report as an independent company, Spansion reported net revenues of $279.2 million for the quarter ending September 30, 2014, representing a year-over-year increase of 10.3%. The company's net income for the quarter was $18.6 million, or $0.17 per diluted share.
Spansion's growth strategy before the acquisition was focused on expanding its presence in the automotive and industrial markets, as well as developing new products and technologies to address the increasing demand for secure and high-performance memory solutions. The company had a robust product portfolio, and its innovative solutions were well-positioned to address the growing needs of its target markets.
In summary, while Spansion Inc is no longer a publicly traded company, it was a leading provider of embedded systems solutions with a focus on flash memory solutions. The company's growth strategy was centered on expanding its presence in the automotive and industrial markets and developing innovative products and technologies. Its last reported quarterly earnings showed strong revenue and income growth, making it an attractive acquisition target for Cypress Semiconductor Corporation in 2015.