PMC-Sierra To Acquire Leading MIPS Processor Company, Quantum Effect Devices
ny-web1.businesswire.com|qedi
CAMPBELL, Calif.--(BUSINESS WIRE)--July 11, 2000--
Acquisition Will Add High Performance Programmable Networking and Control Processing Capabilities to PMC-Sierra's Extensive Line of Broadband Infrastructure Semiconductors
PMC-Sierra, Inc. (Nasdaq:PMCS) and Quantum Effect Devices, Inc. (Nasdaq:QEDI) today announced that they have entered into a definitive merger agreement. Based on today's closing price, PMC-Sierra shares with a value of approximately $2.3 billion will be issued to QEDI stockholders at an exchange ratio of 0.385 PMCS shares per QEDI share. The transaction will be accounted for as a pooling of interests and is subject to the satisfaction of customary closing conditions, including QEDI stockholder approval and expiration of the regulatory waiting period.
MIPS(R) Is the Processor of Choice for Networking
"Quantum Effect Devices is a leading provider of MIPS(R) processors for networking applications," said Bob Bailey, PMC-Sierra's chairman and CEO. "This is one of the most widely adopted architectures in the broadband infrastructure and is a synergistic addition to our rapidly expanding offering of broadband communications semiconductors. QED's products are very complementary to PMC-Sierra's solutions for the access and core infrastructure applications which include our recent acquisitions of several DSP-based technology companies," Bailey noted. "As the power of processors increase, they will become more commonplace in the line cards of routers and switches. With this acquisition, PMC-Sierra will now be positioned to provide more of the critical silicon for these applications including an open architecture microprocessor."
"We are pleased to join forces with a broadband communications leader like PMC-Sierra," said Tom Riordan, president and CEO of Quantum Effect Devices. "This acquisition is extremely strategic for both companies as we combine our MIPS(R) processor expertise with PMC-Sierra's product line to offer a more comprehensive broadband communications semiconductor solution for all of our customers."
The Quantum Effect Devices team of over 100 employees will join PMC-Sierra as a new unit within the company. Tom Riordan will report to Bob Bailey as vice president and general manager of the new division.
Wind River Expands Hardware Assisted Tools Strategy, Supports MIPS, Hitachi, ARM Processor Families With Comprehensive, Fully-Integrated Tool Suite
www2.marketwatch.com{FFF4DA02-D8F5-4757-AD53-10E65EC0797B}
ALAMEDA, Calif.--(BUSINESS WIRE)--July 12, 2000--Addition of Former EST Corporation Gives Developers Best-of-Class Tools, Independent of Operating System
Wind River Systems, Inc. (Nasdaq:WIND), a leading provider of software and services for smart devices in the Internet age, today announced that its hardware assisted tool suite -- obtained through the acquisition of EST Corporation -- will be available for microprocessors from MIPS Technologies, Inc., Hitachi Semiconductor, Inc. and ARM Limited.
As the first set of hardware bring-up products launched under the Wind River banner since the close of the EST acquisition, this move dramatically expands Wind River's ability to meet customer hardware bring-up needs. (See separate EST acquisition press release February 29, 2000.)
The addition of new microprocessor support is a new direction for this product family and in line with Wind River's approach to provide operating systems and development tools for the widest range of microprocessors on the market. Wind River will continue EST's strategy of offering these best-of-class tools to any developer using one of the supported microprocessors, including all the previously announced Motorola processors, regardless of which operating system is selected.
These products are designed to help embedded system developers bring up new hardware and debug applications during product development, and then to facilitate production and test of completed products. Embedded developers now have a single, comprehensive source for hardware and software integration solutions across the industry's most popular platforms.
Pacific Exchange to Trade Six New Options
www2.marketwatch.com{AB8AFB23-7F60-41F7-9E11-A5F6EC2701D8}
MONDAY, JULY 10, 2000 2:58:00 PM EST--SAN FRANCISCO, Jul 10, 2000 /PRNewswire via COMTEX/ -- The Pacific Exchange (PCX) today announced the listing of six new options issues. For expiration cycles and strike prices, visit the PCX Web site at www.pacificex.com.
MIPS Technologies, Inc. MIPSB;PCX:QOS options will trade on the March expiration cycle. It will open on Wednesday, July 12. Position and exercise limits have been set at 75,000 contracts. QOS options have been allocated to lead market maker Michael Resch of DRZ Derivatives, L.L.C.
Amex to Trade Options on MetLife, Inc., Stratos Lightwave,Inc., ArthroCare Corporation, MIPS Technologies, Inc. and AudioCodes Ltd.
www2.marketwatch.com{97281985-3067-42D4-8DF6-F6C2280DDA11}
FRIDAY, JULY 7, 2000 3:29:00 PM EST--NEW YORK, Jul 7, 2000 /PRNewswire via COMTEX/ -- The American Stock Exchange will launch trading in options on the Nasdaq National Market-listed stocks Stratos Lightwave, Inc. SZQ/STOCKSYMBOL:STLW, ArthroCare Corporation ARU/STOCKSYMBOL:ARTC, MIPS Technologies, Inc. (Cl.B) (Options Symbol: QOS / Stock Symbol: MIPSB), AudioCodes Ltd. UXR/STOCKSYMBOL:AUDC and the New York Stock Exchange listed stock MetLife, Inc. MET on Wednesday, July 12, 2000.
MIPS Technologies, Inc. (Cl.B) options will open with strike prices of 30 - 35 - 40 and position limits of 13,500 contracts. The options will trade on the March expiration cycle with initial expirations in August, September, December and March. The specialist will be AGS Specialist Partners. MIPS Technologies, Inc. is one of the world's primary architects of embedded 32- and 64-bit RISC processors. |
