Micrel Acquires Altos Semiconductor
SAN JOSE, Calif., Dec. 16 /PRNewswire/ -- Micrel, Inc. (Nasdaq: MCRL - news) announced today that it had acquired privately held Altos Semiconductor, Inc., a developer of temperature sensing and thermal management products. These products, designed for the computer, peripheral and industrial markets, will further strengthen Micrel's position as a supplier of mixed signal and analog ICs.
''The addition of Altos Semiconductor's products and technology is well aligned with our existing focus on thermal management, initiated with the MIC502 earlier this year'' said Ray Zinn, President & CEO of Micrel. ''As form factors shrink and performance improvements out-pace power reduction techniques, system temperatures are rising ever higher. Our nascent line of sensors and system management ICs will provide simple solutions to this increasingly prevalent system design issue.'' said Zinn.
Under the terms of the purchase agreement Micrel paid $1.8 million in cash for the outstanding shares of capital stock of Altos Semiconductor. In connection with the acquisition the company expects to take a one-time charge against after-tax earnings in the current quarter ending December 31, 1999 for the expense of in-process research and development associated with the acquisition.
Statements in this press release, which are not purely historical, are forward-looking statements. All forward-looking statements included in this release are made as of the date hereof, based on information available to Micrel as of the date hereof, and Micrel assumes no obligation to update any forward-looking statement. It is important to note that actual outcomes could differ materially from those in such forward-looking statements. Readers should refer to the risk disclosures outlined in Micrel's Annual Report on Form 10-K for the year ended December 31, 1998 and Micrel's quarterly reports on Form 10-Q filed with the SEC.
Micrel is a leading manufacturer of advanced high-performance analog power ICs and subminiature packaging. These products include: low-dropout voltage regulators, PCMCIA and USB power controllers, switch-mode supply controllers (SMPS), operational amplifiers and comparators, charge pumps, voltage references, MOSFET drivers, charge pumps, voltage references, latched drivers and RF devices. Applications for these devices include all portable and wireless products. Micrel-Synergy Semiconductor, a wholly owned subsidiary of Micrel, provides high performance, high speed communications, clock management and logic ICs to the network, telecom, computing and ATE/instrumentation markets.
SOURCE: Micrel, Inc. |
