Product category:
Networking Hardware
News Release from: Performance Technologies
Edited by the Electronicstalk Editorial
Team on 15 January 2004
Acquisition to expand platform
configurations
Performance Technologies is to acquire Mapletree Networks, a leader in DSP products for VoIP, wireless and media processing applications.
Performance Technologies has entered an agreement to acquire Mapletree Networks, a leader in DSP products for VoIP, wireless and media processing applications, in a purchase of assets transaction Mapletree Networks will become a fully owned operating unit of Performance Technologies, expanding the company's product offering to provide comprehensive platform configurations to OEMs and system integrators
This article was originally published on Electronicstalk on 4 Jul 2003 at 8.00am (UK)
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Mapletree Networks develops voice, data and fax technology solutions built on high-performance DSP and RISC processors.
The core of Mapletree's technology offering is the award-winning and extensive UniPorte Software Architecture, which provides a comprehensive software capability for the development of IP-based communications network equipment.
The UniPorte Software Architecture and related DSP hardware highly complements Performance Technologies' IPnexus and Advanced Managed Platform products and strengthens the company's comprehensive line of embedded systems platforms and components.
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"This acquisition will further expand Performance Technologies' platform and product offering, enabling the company to offer nearly all necessary technology elements to customers serving our targeted communications, commercial and military embedded system markets", said Don Turrell, President and CEO of Performance Technologies.
"As our customers continue to interact with a select number of more strategic vendors, a more complete system platform offering directly strengthens and expands our relationship with these companies".
The addition of the Mapletree product line allows Performance Technologies to better participate in the VoIP market, a resurging segment fuelled by the growth of affordable broadband and the ongoing expansion in the wireless market.
The total market opportunity for the Mapletree class of product was estimated at $2.29 billion in 2003 (source: InStat Research, Forward Concepts), and Performance Technologies estimates the ability to compete for opportunities in 20% of that market.
Sources also predict a compound annual market growth in this segment to be greater than 40% through 2006.
The acquisition provides a substantial increase in the current served market for the expanded Performance Technologies product line.
"By joining Performance Technologies, we are able to provide our customers with an increased product selection, added services and support, and an even greater level of vendor confidence", said Sean Aruda, President and CEO of Mapletree Networks.
"Additionally, our technology solutions are an excellent fit with the Performance Technologies IPnexus platform products and collectively create significant new market opportunities for the newly combined company".
Completion of the transaction is expected on or before 31st January 2004 for a total cash consideration up to $8.25 million, which includes a potential contingent earn-out component of approximately 30%.
Once completed, this new business unit of Performance Technologies will continue management and engineering operations in its Norwood, Massachusetts facility, with engineering operations in Toronto, Canada and sales offices in San Diego, California, Cambridgeshire, UK and Beijing, China.
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