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To: Return to Sender who wrote (27762)	8/28/2000 3:59:00 AM
From: Johnny Canuck	Respond to of 68350

This should has a nice spill over effect to the chip sector. ***************** Sunday August 27, 11:33 pm Eastern Time Applied Micro to buy MMC Networks for $4.5 bln (UPDATE: Adds details, background, changes dateline pvs SAN DIEGO) "PALO ALTO, Calif., Aug 27 (Reuters) - Chip maker Applied Micro Circuits Corp. (NasdaqNM:AMCC - news) said on Sunday it would buy MMC Networks (NasdaqNM:MMCN - news) in a stock deal valued at about $4.5 billion, as it bids to expand into the high-speed communications products market. Under the agreement, Applied Micro Circuits, which sells chips for the fast-growing optical communications business, would issue 0.619 of a share for each share of MMC Networks, a network chip supplier." ***************** For 10K: COMPETITION The data networking and semiconductor industries are intensely competitive and are characterized by constant technological change, rapid rates of product obsolescence and price erosion. The Company's Network Processors and Switch Fabrics compete now or are expected to compete in the future with current or future products from companies such as Broadcom, Conexant, Galileo Technology**, IBM, Intel, Lucent Technologies, Motorola, PMC-Sierra, SiTera, and Texas Instruments, as well as additional and potential future smaller start-up companies. Additional existing domestic and international semiconductor suppliers could also enter the market in the future. The Company could also face competition from suppliers of products based on new or emerging technologies. In addition, many of the Company's existing and potential customers, including Cisco, internally develop ASICs, general purpose processors, Network Processors, or other devices which attempt to perform some or all of the functions performed by the Company's products.