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Alliance Semiconductor sells land for $3.1m

Alliance Semiconductor Corp. said Wednesday that one of its wholly-owned subsidiaries has agreed to sell a parcel of land near Hyderabad, India, for about $3.1 million.

Santa Clara-based Alliance said its subsidiary received a deposit equal to approximately $870,000. If the sale is not completed by July 24, the agreement will terminate and Alliance's subsidiary will retain a portion of the deposit. In addition, Alliance said it entered into two separate purchase agreements for the sale of assets relating to its memory business units. The company earlier sold its analog and mixed signal business unit for about $9.25 million, and its systems solutions business unit for $5.8 million.