SUNNYVALE, Calif. -- Aug. 16, 2002 -- Sirenza Microdevices, Inc. (Nasdaq:SMDI - News), a leading designer and supplier of high-performance radio frequency (RF) components for communications equipment manufacturers, today announced that it has signed a definitive agreement to acquire Xemod Incorporated for approximately $4.5 million in cash, with additional cash considerations for the achievement of technology licensing objectives. Xemod is a privately held, fabless designer and manufacturer of RF power amplifier modules and components based on patented lateral double-diffused transistor (LDMOS) technology.
"This is a strategic acquisition which will extend our power component product line to significantly higher power levels and operating voltages for wireless network equipment applications, while maintaining the long-term advantages of our fabless operating model," said Robert Van Buskirk, president and chief executive officer of Sirenza. "Our plan is to integrate Xemod's proprietary LDMOS with our broad technology portfolio and thereby offer our customers a complete line of pre-driver, driver and output power amplifiers, featuring the optimal semiconductor technology for a wide range of applications and RF power requirements. Xemod's LDMOS intellectual property, research and development resources, and multi-component module manufacturing capabilities will add a robust new dimension to Sirenza's RF power bandwidth."
In connection with the proposed acquisition, Joseph Johnson, president and chief executive officer of Xemod, will join Sirenza as chief technology officer. John Ocampo, Sirenza co-founder, chairman of the board and current chief technology officer, will remain chairman and continue his active involvement in the strategic direction of the company. Richard Clark, Xemod vice president of marketing, will become vice president and general manager of Sirenza's new Integrated Power business area, which will focus on the development and marketing of the company's integrated power module and component product lines.
Sirenza expects the acquisition to be completed in September or October 2002. The acquisition has been approved by the board of directors of each company and is subject to customary closing conditions.
About Xemod Incorporated
Xemod Incorporated, an ISO 9001-certified manufacturer headquartered in Tempe, Arizona, designs, manufactures and markets power amplifier components targeted at wireless communications markets. Founded in 1994, the company currently offers the QuikPAC integrated power modules, developed using proprietary technologies, enabling the fully automated assembly of high-power RF amplifiers. Xemod has developed a proprietary LDMOS semiconductor technology to serve as the base for its RF power modules and components, which provides significant price and performance advantages to global communications equipment OEMs.
About Sirenza Microdevices, Inc.
Sirenza Microdevices, Inc., an ISO 9001:2000-certified manufacturer headquartered in Sunnyvale, California, with design centers throughout the U.S. and Canada, is a leading supplier of high-performance RF components for the wireless and wireline telecommunications markets. The company's product lines include amplifiers, power amplifiers, discrete devices, RF signal processing components, fiber optic components, and high-performance multi-component modules (MCMs) for transmit and receive applications. Product information may be found on Sirenza Microdevices' website at www.sirenza.com.