PMCS...BRCM competitor:
(imo this validates what BRCM has been doing...buying up the niche's)
Tuesday August 24, 4:46 pm Eastern Time
Company Press Release
PMC-Sierra, Inc. Announces Acquisition of Abrizio Inc.
BURNABY, British Columbia--(BUSINESS WIRE)--Aug. 24, 1999-- PMC-Sierra (NASDAQ:PMCS - news) today announced they will acquire Abrizio Inc., a privately held, fabless semiconductor company for approximately US$400 million or 4,352,000 shares in PMC-Sierra stock. The transaction will be accounted as a pooling-of-interests.
Abrizio, located in Mountain View, California, specializes in broadband switch chip fabrics used in core ATM switches, digital cross-connects, and terabit routers. The systems using Abrizio's scalable switch fabric chipset are designed to support POS, ATM, Frame Relay, voice, and IP traffic. The Abrizio TT1 chipset has been well received by the marketplace having been designed into several Tier 1 broadband customers' mainstream systems. Anders Swahn, Abrizio's president and CEO, will report directly to PMC-Sierra president and CEO, Bob Bailey.
''PMC-Sierra management is very excited to have such a talented and enthusiastic team join forces with our company,'' said Bailey. ''The combined strengths of PMC-Sierra and Abrizio will give our customers a compellingly comprehensive solution to their broadband silicon requirements. This acquisition is designed to further enhance PMC-Sierra's position in the sweet spot of the semiconductor market -- broadband infrastructure,'' Bailey concluded.
''We are looking forward to joining a world-class organization like PMC-Sierra,'' said Swahn. ''Strategically, it is an excellent fit as our companies have very complementary technology, products and customers.''
About PMC-Sierra
PMC-Sierra is a leading provider of high speed internetworking component solutions emphasizing ATM, Ethernet, SONET/SDH, T1/E1 and T3/E3 applications. The company's quality system is registered with the Quality Management Institute to the ISO 9001 standard. As co-founder of the SATURN Development Group, PMC-Sierra works with over 30 other member companies to define and develop interoperable, standard-compliant solutions for high speed networking applications.
The company is headquartered in Burnaby, British Columbia and is publicly traded on NASDAQ under the symbol ''PMCS''. PMC-Sierra offers worldwide technical and sales support and has design centers located throughout North America. For more information about PMC-Sierra, visit pmc-sierra.com.
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Contact:
PMC-Sierra
Susan Shaw, 604/415-6031
sshaw@pmc-sierra.com
or
Cain Communications
Bill Bucy, 408/341-8960
Bill-Bucy@caincomm.com
or
Publicity Management
Leslie Franks, +44-1488-683936
LKFranks@compuserve.com
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More Quotes and News: PMC-Sierra Inc (Nasdaq:PMCS -
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