AMCC Further Expands Digital and Mixed-Signal Design Capabilities With the
Acquisition of Colorado-Based SiLUTIA
Business Editors and High-Tech Writers
SAN DIEGO--(BUSINESS WIRE)--Sept. 21, 2000--
SiLUTIA's Core Competencies in High Speed I/O and Transceiver
Design Build Upon AMCC's Integration and Serial Backplane Strategies
Applied Micro Circuits Corp.(R) (AMCC) (NASDAQ:AMCC), the leader
in high-bandwidth silicon connectivity for the world's optical
networks, Thursday announced the acquisition of SiLUTIA, a digital and
mixed-signal company focused on providing high-speed, low-power I/O
connectivity solutions for the broadband communications market, for an
undisclosed amount.
A privately held company, SiLUTIA was founded in 1999 and is
located in Fort Collins, Colo.; the company specializes in developing
high-speed CMOS transceivers and I/O protocol controllers. SiLUTIA
will become a product development center of excellence focusing on
mixed-signal devices that support AMCC's system solution approach, and
cores that can be integrated into future AMCC PHY, framer, switch
fabric, and, following the completion of the merger with MMC Networks,
network processor solutions.
"This acquisition reflects our strategy of providing leading-edge
digital and mixed-signal solutions to the optical networking
communications markets, as we enhance our product development
capability and pursue additional integration paths," said Greg Winner,
AMCC's vice president of engineering. "The fusion of SiLUTIA and AMCC
will extend our future PHY, framer, network processor and switch
fabric design, and will further enhance our ability to provide total
system solutions to our customers."
"AMCC's clear commitment to providing leading-edge solutions in
the digital and mixed-signal arenas, combined with their successful
acquisition and integration track record with companies such as
Cimaron Communications and YuniNetworks, make this acquisition a
compelling move for both companies," said Randy Zwetzig, former CEO of
SiLUTIA. "We're excited to be joining an industry leader that provides
high-bandwidth silicon connectivity solutions; we believe that our
high-speed I/O capability will provide substantial benefits to AMCC's
customer base, and look forward to the continued growth of our
Colorado development center."
Randy Zwetzig, SiLUTIA's CEO, will serve as AMCC's director of
interconnect engineering and report directly to Greg Winner, AMCC's
vice president of engineering. The acquisition of SiLUTIA will bring
AMCC's staffing levels to over 636 people worldwide. Effective
immediately, AMCC will assume operations of SiLUTIA's Fort Collins
facility. This transaction will be accounted for as a purchase, and
reflected in AMCC's financial statements for the quarter ending
Sept. 30, 2000.
About AMCC
AMCC designs, develops, manufactures and markets high-performance,
high-bandwidth silicon solutions for the world's optical networks. The
company utilizes a combination of high-frequency, mixed-signal design
expertise and multiple silicon process technologies to offer IC
products for the telecommunications market that address the SONET/SDH
and ATM transmission standards and for the data communications markets
that address the Gigabit Ethernet, ATM and Fibre Channel transmission
standards. AMCC's core technologies also address ATE and high-speed
computing needs.
AMCC's corporate headquarters and wafer fabrication facilities are
located in San Diego. Sales and consulting engineering offices are
located throughout the world. For further information regarding AMCC
and its products, write: Marketing Communication Department, AMCC,
6290 Sequence Drive, San Diego, Calif., 92121-4358; or call
800/755-AMCC (800/755-2622) or 858/450-9333; or fax 858/450-9885; or
email nwpr@amcc.com; or visit our Web site at amcc.com.
Forward Looking Statements:
The statements contained in this press release that are not purely
historical are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements
include, but are not limited to, statements regarding the future role
of SiLUTIA, AMCC's product development strategy, the expected benefits
of the acquisition and the future growth of AMCC. Such forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from those projected. Risks and
uncertainties that could cause actual results to differ materially
from such forward-looking statements include, but are not limited to,
risks associated with difficulties in successfully integrating
SiLUTIA's business and technologies, costs related to the acquisition,
failure of AMCC to retain and hire key executives, technical personnel
and other employees of SiLUTIA, as well as the factors discussed
AMCC's Annual Report on Form 10-K for the year ended March 31, 2000,
and AMCC's other filings with the Securities and Exchange Commission.
The forward-looking statements contained in this news release are made
as of the date hereof, and AMCC does not assume any obligation to
update the reasons why actual results could differ materially from
those projected in the forward-looking statements.
AMCC is a registered trademark of Applied Micro Circuits Corp.
--30--js/sd*
CONTACT: Applied Micro Circuits Corp.
Bill Berridge or Mary Pund
858/535-4260 or 858/535-6523
billb@amcc.com or maryp@amcc.com
or
The Ardell Group
Karina Wollesen, 650/569-3806
karina@ardellgroup.com
KEYWORD: CALIFORNIA COLORADO
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS TELECOMMUNICATIONS
HARDWARE SOFTWARE MERGERS/ACQ
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