Acquisition Strengthens Analog Product Line With White LED Drivers and DDR
Memory Voltage Regulators
MILPITAS, Calif., April 13 /PRNewswire-FirstCall/ -- California Micro
Devices (Nasdaq: CAMD) today announced that it has completed its previously
announced acquisition of Arques Technology, a privately held fabless
manufacturer of analog semiconductor devices founded in 2001. The
acquisition of the Santa Clara, California firm adds white LED drivers for
mobile handsets and DDR memory voltage regulators for digital consumer
electronics to the CMD product portfolio.
Citing the acquisition as a major CMD milestone, Robert V. Dickinson,
president and chief executive officer, stated, "The acquisition of Arques
Technology significantly strengthens our analog design team and our
portfolio of products for mobile handsets and digital consumer electronics.
It also represents a major expansion of our presence in Asia with a design
center in Taiwan and a sales office in Beijing. I am also pleased to
announce that Gerome Tseng, CEO of Arques, will join our executive staff as
vice president, business development, reporting to me." Dickinson confirmed
that the acquisition was completed today with an initial cash payment of
approximately $8.0 million plus an earn-out potential based on sales of the
Arques product line over the next eighteen months.
Most of the 25 Arques employees have been offered the opportunity to
continue working in their present positions as the company's operations are
merged into CMD. Employees currently working in its Santa Clara
headquarters will relocate the CMD's headquarters in Milpitas while those
working in its Taipei and Beijing locations will continue to do so.
About California Micro Devices Corporation
California Micro Devices Corporation is a leading supplier of
application specific analog semiconductor products for the mobile handset,
personal computer and digital consumer electronics markets. Key products
include Application Specific Integrated Passive(TM) (ASIP(TM)) devices and
selected high value mixed signal ICs. Detailed corporate and product
information may be accessed at http://www.calmicro.com.
All statements contained in this press release that are not historical
facts are forward-looking statements which are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
They are not guarantees of future performance or events. Rather, they are
based on current expectations, estimates, beliefs, assumptions, and goals
and objectives and are subject to uncertainties that are difficult to
predict. As a result, our actual results may differ materially from the
statements made. Often such statements can be identified by their use of
words such as will, intends, expects, plans, believes, anticipates, and
estimates. Forward-looking statements made in this release include that we
expect our acquisition of Arques Technology to strengthen our analog design
team, our portfolio of active analog devices, and our Asian presence. These
forward- looking statements are based upon our assumptions about and
assessment of the future, which may or may not prove true, and involve a
number of risks and uncertainties including, but not limited to key members
of the Arques analog design team becoming integrated successfully into
CMD's product engineering team and the Arques product portfolio not being
as robust as we expect when readied for production as well as the risk
factors detailed in the company's Form 8K, 10K, and 10Q filings with the
Securities and Exchange Commission. Due to these and other risks, the
company's future actual results could differ materially from those
discussed above. These forward-looking statements speak only as to the date
of this release, and, except as required by law, we undertake no obligation
to publicly release updates or revisions to these statements whether as a
result of new information, future events, or otherwise.
NOTE: ASIP(TM) and Application Specific Integrated Passive(TM) are
trademarks of California Micro Devices.
All other trademarks are property of their respective owners
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