AMI Semiconductor, Inc. (Nasdaq:AMIS), today announced that it successfully completed its acquisition of select businesses of NanoAmp Solutions, Inc. for approximately $21 million in cash. Under the terms of the asset purchase agreement, AMI Semiconductor, Inc. acquired certain assets and assumed certain liabilities related to NanoAmp Solutions’ medical SOC business and its ultra low-power (ULP) 6T-SRAM business, which collectively employ approximately 26 people in the United States, Korea and Taiwan.
“We are excited about the opportunities created by the combination of our ULP mixed-signal and digital signal processing (DSP) capabilities with the newly acquired class-leading ULP SRAM technology from NanoAmp,” stated Chris King, CEO of AMI Semiconductor. “This optimal combination of ULP DSP and ULP SRAM expands our product offering to include a full line of ULP solutions for the medical and other end markets. In addition, we are securing a valuable set of new customers that are complementary to our existing medical and industrial customer base. I am also very pleased to welcome the exceptional design and test engineering talent as well as the focused, quality-driven operations group that are dedicated to serving the implantable medical market.”
The acquired SRAM and SOC businesses are generating revenue, anticipated at approximately $7 — $8 million for all of 2006. For the balance of 2006, the acquisition is expected to be neutral to non-GAAP earnings per share and be accretive by $0.01 per share in 2007.
About AMI Semiconductor
AMI Semiconductor (AMIS) is a leader in the design and manufacture of silicon solutions for the real world. As a widely recognized innovator in state-of-the-art integrated mixed-signal products and structured digital products, AMIS is committed to providing customers with the optimal value, quickest time-to-market semiconductor solutions. Offering unparalleled manufacturing flexibility and dedication to customer service, AMI Semiconductor operates globally with headquarters in Pocatello, Idaho; European corporate offices in Oudenaarde, Belgium; and a network of sales and design centers located in the key markets of North America, Europe and the Asia Pacific region.
About NanoAmp Solutions
Headquartered in San Jose Calif., USA, NanoAmp Solutions is a privately held, fabless semiconductor company, which designs, manufactures, and markets industry-leading ultra low-power memory, ASIC and analog solutions for the wireless communication, industrial, medical, and networking market segments. The company’s vision is to provide ultra-low-voltage and low-power semiconductor solutions that enable customers to create truly revolutionary new products.