ANADIGICS Expands Research and Development Group Through Acquisition of Fairchild Semiconductor's RF Design Team
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WARREN, N.J., Sept. 5 /-- ANADIGICS, Inc. (NASDAQ:ANAD), a leading provider of semiconductor solutions in the rapidly growing broadband wireless and wireline communications markets, has announced that it has acquired from Fairchild Semiconductor, for $2.3 million, the RF team, fixed assets, certain leases, software, and licenses to intellectual property in connection with Fairchild's exiting of its RF Group business in Tyngsboro, Massachusetts.
The acquisition, which included the hiring of 23 highly experienced RF design and engineering professionals, will further accelerate the Company's design and development of RF active semiconductor devices for the 3G Cellular, WiFi and WiMAX markets.
"Highly specialized RF talent is rare in the semiconductor industry and is a differentiating factor in our fast growing markets," said Dr. Bami Bastani, President & CEO of ANADIGICS, Inc. "The establishment of the Massachusetts design center not only fulfills our planned 2008 resource requirements, but further consolidates the industry and provides ANADIGICS with a knowledgeable and exceptionally experienced RF team, which will accelerate our new revenue growth opportunities for 3G Wireless, WiFi and WiMAX product lines."
"While this transaction will increase our anticipated R&D expenses for the fourth quarter of 2007, customer demand forecasts and fourth quarter momentum for our products remain robust, which is expected to partially offset the incremental expenses," said Tom Shields, Executive Vice President & CFO of ANADIGICS, Inc. "Additionally, for fiscal year 2008, our business model had already planned comparable R&D expenses and, consequently, does not need to be further adjusted for this acquisition."
As a part of the agreement, ANADIGICS will provide business and technical transitional support services to assist Fairchild as it exits the RF business.
For more information on ANADIGICS, visit the Company's Web site at www.anadigics.com
About ANADIGICS, Inc.
ANADIGICS, Inc. (NASDAQ:ANAD) is a leading provider of semiconductor solutions in the rapidly growing broadband wireless and wireline communications markets. The Company's products include power amplifiers, tuner integrated circuits, active splitters, line amplifiers, and other components, which can be sold individually or packaged as integrated radio frequency and front end modules.
Source: ANADIGICS, Inc.
CONTACT: Press: Chuck Manners of Godfrey, +1-717-393-3831, chuck@godfrey.com; or Corporate Contact: Jennifer Palella, +1-908-668-5000, jpalella@anadigics.com, or Investor Relations: Thomas Shields,
+1-908-412-5995, tshields@anadigics.com, both of ANADIGICS, Inc.
Web site: www.anadigics.com/
