Ic Works Inc

Cypress Semiconductor Corp., which makes microchips for computers and telecommunications uses, agreed to buy IC Works Inc., a closely held maker of integrated-circuit timing equipment, for about $130.2 million in stock. Cypress, which reported 1997 revenue of about $500 million, will issue 13.7 million shares of its stock to ICW shareholders. ICW has annual revenue of about $70.4 million. San Jose-based Cypress said it expects the acquisition to help it penetrate the PC market.

Cypress Semiconductor Corp., which makes microchips for computers and telecommunications uses, agreed to buy IC Works Inc., a closely held maker of integrated-circuit timing equipment, for about $130.2 million in stock. Cypress, which reported 1997 revenue of about $500 million, will issue 13.7 million shares of its stock to ICW shareholders. ICW has annual revenue of about $70.4 million. San Jose-based Cypress said it expects the acquisition to help it penetrate the PC market.

* Charles D. Miller has been elected chairman of the board of directors of Nationwide Health Properties Inc. in Newport Beach, a real estate investment trust that invests in health care facilities. He has been on the board since 1985. Miller is chairman of the board and chief executive officer of Avery Dennison Inc. In addition, Jack D. Samuelson has been appointed chairman of the company's investment committee. Both positions were formerly held by Milton J. Brock Jr.