Transmeta Engages Investment Bank

Santa Clara-based Transmeta, which develops technology for the semiconductor industry, said today that the firm has engaged investment bank Pipper Jaffray & Co. According to Transmeta, it will work with Piper Jaffray to identify "options to enhance shareholder value." The firm said the investment bank will help it evaluate and respond to an unsolicited buyout bid from Riley Investment Management LLC. Riley, the largest shareholder in Transmeta, made an unsolicited bid for the firm last week after complaints about the firm's management.