MACOM Announces Definitive Agreement to Sell Mindspeed CPE Communications
Processor Business to Freescale Semiconductor
LOWELL, Mass., April 7, 2014 (GLOBE NEWSWIRE) -- M/A-COM Technology Solutions
Holdings, Inc. (Nasdaq:MTSI) (MACOM), a leading supplier of high performance
RF, microwave, and millimeter wave products, today announced that its
Mindspeed Technologies, Inc. subsidiary has entered into a definitive
agreement to sell its CPE communication processor business to Freescale
Semiconductor, including the Comcerto^TM 100, 1000 and 2000 product families
of multicore embedded processors. MACOM plans to retain the related Comcerto
VoIP processor business as a long-term holding. The transaction is subject to
customary closing conditions and is expected to close in the second calendar
quarter of 2014. The terms of the transaction were not disclosed.
"We are pleased to have reached a definitive agreement for Freescale to
purchase the CPE business," said John Croteau, President and Chief Executive
Officer. "This divesture is consistent with the vision that we outlined in
December to focus our efforts on Mindspeed's complementary high performance
analog business and follows our successful sale of Mindspeed's wireless
infrastructure business to Intel in February. This transaction demonstrates
further execution on our integration strategy and a commitment to our
leadership position in the high performance analog, RF, microwave and
millimeter wave markets."
M/A-COM Technology Solutions Holdings, Inc. (www.macom.com) is a leading
supplier of high performance analog RF, microwave, and millimeter wave
products that enable next-generation Internet and modern battlefield
applications. Recognized for its broad catalog portfolio of technologies and
products, MACOM serves diverse markets, including high speed optical,
satellite, radar, wired & wireless networks, CATV, automotive, industrial,
medical, and mobile devices. A pillar of the semiconductor industry, we thrive
on more than 60 years of solving our customers' most complex problems, serving
as a true partner for applications ranging from RF to Light.
Headquartered in Lowell, Massachusetts, M/A-COM Tech is certified to the
ISO9001 international quality standard and ISO14001 environmental management
standard. M/A-COM Tech has design centers and sales offices throughout North
America, Europe, Asia and Australia.
MACOM, M/A-COM, M/A-COM Technology Solutions, M/A-COM Tech, Partners in RF &
Microwave, The First Name in Microwave and related logos are trademarks of
MACOM. Mindspeed and Comcerto are trademarks of Mindspeed Technologies, Inc.
All other trademarks are the property of their respective owners.
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements based on MACOM
management's beliefs and assumptions and on information currently available to
our management. Forward-looking statements include, among others, statements
concerning the timing and any expected results of the proposed sale of the CPE
business, plans for the VoIP business and MACOM's commitment to our leadership
position in the high performance analog, RF, microwave and millimeter wave
Forward-looking statements contained in this press release reflect MACOM's
current views about future events and are subject to risks, uncertainties,
assumptions and changes in circumstances that may cause those events or our
actual activities or results to differ materially from those expressed in any
forward-looking statement. Although MACOM believes that the expectations
reflected in the forward-looking statements are reasonable, it cannot and does
not guarantee future events, results, actions, levels of activity, performance
or achievements, including the timing or ultimate success of CPE divesture or
successful execution of any other plans described in this press release.
Readers are cautioned not to place undue reliance on these forward-looking
statements. A number of important factors could cause actual results to differ
materially from those indicated by the forward-looking statements, including,
among others, failure to satisfy any closing conditions of the proposed
transaction, indemnification claims, litigation or other costs or disputes
associated with the CPE divesture, related restructuring activities, failure
to achieve anticipated benefits of the transaction, and other factors
described in "Risk Factors" in MACOM's filings with the Securities and
Exchange Commission (SEC), including its Quarterly Report on Form 10-Q for the
fiscal quarter ended January 3, 2014 as filed with the SEC on February 12,
2014. MACOM undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future
events or otherwise.
CONTACT: Company Contact:
M/A-COM Technology Solutions Holdings, Inc.
Director, Corporate Communications
Investor Relations Contact:
Leanne K. Sievers, EVP
Brett L. Perry, Managing Director
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