ANADIGICS expands Research and Development Group through Acquisition of Fairchild Semiconductor's RF Design Team
September 05, 2007
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Warren, NJ, September 5, 2007 - 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 - News) 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. Safe Harbor Statement Except for historical information contained herein, this press release contains projections and other forward-looking statements (as that term is defined in the Securities Exchange Act of 1934, as amended). These projections and forward-looking statements reflect the Company's current views with respect to future events and financial performance and can generally be identified as such because the context of the statement will include words such as "believe", "anticipate", "expect", or words of similar import. Similarly, statements that describe our future plans, objectives, estimates or goals are forward-looking statements. No assurances can be given, however, that these events will occur or that these projections will be achieved and actual results and developments could differ materially from those projected as a result of certain factors. Important factors that could cause actual results and developments to be materially different from those expressed or implied by such projections and forward-looking statements include those factors detailed from time to time in our reports filed with the U.S. Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2006. |
ANADIGICS acquires Fairchild Semiconductor RF Team. |
