Acquisition adds medical SoCs and SRAMs

AMI Semiconductor has successfully completed its acquisition of select businesses of NanoAmp Solutions for approximately $21 million in cash.

AMI Semiconductor has successfully completed its acquisition of select businesses of NanoAmp Solutions for approximately $21 million in cash.

Under the terms of the asset purchase agreement, AMI Semiconductor 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 USA, 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, expected to be 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.

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