<PAGE>
FORM 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OF 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 1998
Galileo Technology Ltd.
- --------------------------------------------------------------------------------
(Translation of registrant's name into English)
Moshav Manof, D.N. Misgav 20178, Israel
- --------------------------------------------------------------------------------
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
------------ ------------
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
------------ ------------
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
GALILEO TECHNOLOGY LTD.
June 11, 1998 By: George A. Hervey
----------------------
George A. Hervey, Sr. Vice President of
Finance and Chief Financial Officer
1
<PAGE>
FOR MORE INFORMATION CONTACT
George A. Hervey
Sr. VP Finance & CFO
(408) 367-1400 x228
Galileo Website Location: http://www.galileoT.com
FOR IMMEDIATE RELEASE
- ---------------------
GALILEO TECHNOLOGY INC. ANNOUNCES ACQUISITION
OF SHARES OF GALILEO TECHNOLOGY LTD.
San Jose, CA June 10, 1998 Galileo Technology Inc. ("GTI"), a California
corporation that is the wholly-owned subsidiary of Galileo Technology Ltd.
("GTL") (Nasdaq:GALTF), today announced that its Board of Directors has
approved a stock purchase program to buy an aggregate of up to five percent of
the Ordinary Shares of GTL from time to time at prevailing market prices as
permitted by applicable law. GTL has approximately 20.5 million Ordinary Shares
issued and outstanding. The shares may be used for issuance upon exercise of
employee stock options under existing or new stock option plans of GTI and for
other corporate purposes.
Manuel Alba, President of GTI said, "We believe that GTL's stock is
undervalued. We think that implementing a purchase program expresses our
confidence in the long-term direction and performance of GTL, and evidences our
strong commitment to increasing shareholder value for the shareholders of GTL."
ABOUT GALILEO TECHNOLOGY LTD.
Galileo Technology Ltd., defines, develops and markets advanced digital
semiconductor devices that perform critical functions for network systems.
Galileo's Datacom Systems on Silicon tm are designed to simplify design efforts,
reduce development risks and costs, and substantially improve time-to-market for
OEM's in the data communications equipment market. The company's product lines -
system controllers, switched Ethernet LAN controllers and remote access WAN
controllers - provide three of the key functionalities of data communications
systems. Galileo Technology Ltd., founded in Karmiel, Israel, began operations
in early 1993, and opened its business operations, Galileo Technology, Inc., in
San Jose, California, in early 1994. Galileo employs more than 120 employees
worldwide.
###
Any forward-looking statements contained in this document reflect
management's current intentions and expectations. Actual future results could
vary materially depending on certain risks and uncertainties, including
dependence on new product development, customer acceptance and competition and
other risk factors listed in the company's most recent report on form 20-F on
file with the SEC.
