CAMD California Micro Devices Corp. (MM)

Acquisition Strengthens Analog Product Line With White LED Drivers and DDR Memory Voltage Regulators MILPITAS, Calif., April 13 /PRNewswire-FirstCall/ -- California Micro Devices (NASDAQ:CAMD) today announced that it has completed its previously announced acquisition of Arques Technology, a privately held fabless manufacturer of analog semiconductor devices founded in 2001. The acquisition of the Santa Clara, California firm adds white LED drivers for mobile handsets and DDR memory voltage regulators for digital consumer electronics to the CMD product portfolio. Citing the acquisition as a major CMD milestone, Robert V. Dickinson, president and chief executive officer, stated, "The acquisition of Arques Technology significantly strengthens our analog design team and our portfolio of products for mobile handsets and digital consumer electronics. It also represents a major expansion of our presence in Asia with a design center in Taiwan and a sales office in Beijing. I am also pleased to announce that Gerome Tseng, CEO of Arques, will join our executive staff as vice president, business development, reporting to me." Dickinson confirmed that the acquisition was completed today with an initial cash payment of approximately $8.0 million plus an earn-out potential based on sales of the Arques product line over the next eighteen months. Most of the 25 Arques employees have been offered the opportunity to continue working in their present positions as the company's operations are merged into CMD. Employees currently working in its Santa Clara headquarters will relocate the CMD's headquarters in Milpitas while those working in its Taipei and Beijing locations will continue to do so. About California Micro Devices Corporation California Micro Devices Corporation is a leading supplier of application specific analog semiconductor products for the mobile handset, personal computer and digital consumer electronics markets. Key products include Application Specific Integrated Passive(TM) (ASIP(TM)) devices and selected high value mixed signal ICs. Detailed corporate and product information may be accessed at http://www.calmicro.com/. All statements contained in this press release that are not historical facts are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. They are not guarantees of future performance or events. Rather, they are based on current expectations, estimates, beliefs, assumptions, and goals and objectives and are subject to uncertainties that are difficult to predict. As a result, our actual results may differ materially from the statements made. Often such statements can be identified by their use of words such as will, intends, expects, plans, believes, anticipates, and estimates. Forward-looking statements made in this release include that we expect our acquisition of Arques Technology to strengthen our analog design team, our portfolio of active analog devices, and our Asian presence. These forward- looking statements are based upon our assumptions about and assessment of the future, which may or may not prove true, and involve a number of risks and uncertainties including, but not limited to key members of the Arques analog design team becoming integrated successfully into CMD's product engineering team and the Arques product portfolio not being as robust as we expect when readied for production as well as the risk factors detailed in the company's Form 8K, 10K, and 10Q filings with the Securities and Exchange Commission. Due to these and other risks, the company's future actual results could differ materially from those discussed above. These forward-looking statements speak only as to the date of this release, and, except as required by law, we undertake no obligation to publicly release updates or revisions to these statements whether as a result of new information, future events, or otherwise. NOTE: ASIP(TM) and Application Specific Integrated Passive(TM) are trademarks of California Micro Devices. All other trademarks are property of their respective owners DATASOURCE: California Micro Devices Corporation CONTACT: Robert V. Dickinson, President and CEO of California Micro Devices Corporation, +1-408-934-3144, or Web site: http://www.calmicro.com/

Copyright