Gould Inc. signed a definitive agreement to...

Gould Inc. signed a definitive agreement to sell its semiconductor division, formerly known as American Microsystems Inc., to California Micro Devices Corp. for about $70 million. Proceeds will be applied to reducing debt and a stock repurchase program, said Gould, which will also trim corporate headquarters staff by about 30%, or 40 people. Milpitas-based California Micro Devices Corp. said the deal will give it the American Microsystems name, a wafer fabrication facility in Pocatello, Ida., an assembly facility in the Philippines, the rights to use the company’s design software and a work force of about 1,500 in the U.S. and overseas.