PMC-Sierra, Inc., (Nasdaq:PMCS) or PMC, the semiconductor innovator transforming storage, optical and mobile networks today announced the Company has acquired Maxim Integrated Products, Inc.'s (Nasdaq:MXIM) 12Gb/s SAS expander technology. PMC expects the acquisition will strengthen its SAS design footprint with leading server OEMs. Combined with PMC's 12Gb/s SAS RAID-on-Chip (RoC) products, Maxim's expander technology enables PMC to offer end-to-end 12Gb/s SAS solutions tailored for server platforms. Continued support for Maxim's industry-leading server expander firmware will preserve OEM investment as they transition from 6Gb/s SAS to 12Gb/s SAS.
"The acquisition of Maxim's 12Gb/s SAS technology allows PMC to strengthen our relationships with tier-one server OEMs and provides future growth opportunities in this market segment," said Greg Lang, PMC's president and CEO. "I'm excited about this acquisition and the strong strategic fit between PMC's core strengths in enterprise storage, and Maxim's established traction with expander solutions at the largest server storage OEMs. Our server and storage OEM customers will benefit from a broader 12Gb/s SAS portfolio that includes Maxim's highly valued feature set and innovations."
"This transfer of our SAS and PCIe switch IP, know-how, and development team allows PMC to continue the 12G SAS expander roadmap that builds on Maxim's current 3G and 6G SAS expander technology and products," said Chris Neil, senior vice president, Maxim. "PMC will manage these next-generation products, roadmaps, IP, firmware, and technologies going forward. Maxim will continue to support the production, delivery, and technical support of Maxim's existing 3G and 6G SAS expanders, signal conditioners, and enclosure and baseboard management controllers. This arrangement will provide for a smooth transition at our customers."
The majority of the personnel employed from Maxim are located in Colorado Springs, CO.
Safe Harbor Statement
This release contains certain forward-looking statements that are subject to risks and uncertainties, such as the expected benefits of the transaction, and the Company's plans for the acquired business. Actual results may differ from these projections. The potential risks and uncertainties include, among others, the integration risks associated with the proposed transaction, loss of customers or employees, the risk that the transaction may not be consummated and other risks associated with the Company's business. The Company's SEC filings describe more fully the risks associated with the Company's business including PMC's limited revenue visibility due to variable customer demands, market segment growth or decline, orders with short delivery lead times, customer concentration, and other items. The Company does not undertake any obligation to update the forward-looking statements.
About Maxim
Maxim makes highly integrated analog and mixed-signal semiconductors. Maxim reported revenue of approximately $2.5 billion for fiscal 2011. For more information, go to www.Maxim-ic.com.
About PMC
PMC (Nasdaq:PMCS) is the semiconductor innovator transforming networks that connect, move and store digital content. Building on a track record of technology leadership, the company is driving innovation across storage, optical and mobile networks. PMC's highly integrated solutions increase performance and enable next-generation services to accelerate the network transformation. For more information, visit www.pmcs.com.
© Copyright PMC-Sierra, Inc. 2012. All rights reserved. PMC and PMC-SIERRA are registered trademarks of PMC-Sierra, Inc. in the United States and other countries, PMCS is a trademark of PMC-Sierra, Inc. Other product and company names mentioned herein may be trademarks of their respective owners.
Contacts:
PMC-Sierra, Inc.
Mike Zellner
Vice President & CFO
Tel:
1 408.988.1204
mike_zellner@pmc-sierra.com
or
Jennifer
Gianola
Director, Investor Relations
Tel: 1 408.239.8630
jennifer_gianola@pmc-sierra.com
or
Kimberly
Mason
Sr Communications Specialist
Tel: 1 604.415.6239
kim_mason@pmc-sierra.com
