AMCC Completes Acquisition of Quake Technologies; Strengthens Leadership Role in Emerging, High-Volume Market for 10G Ethernet
Technology Synergies, Similar Customer Base, and Proven Design Expertise of
Both Companies Position AMCC as a Leading Provider of Ethernet IC Solution
Sunnyvale, CA., Aug. 25 - /PRNewswire-FirstCall/ -- Applied Micro Circuits Corp. (AMCC) (Nasdaq: AMCC) today announced that it has completed the acquisition of Quake Technologies, Inc., the leading provider of 10 Gigabit Ethernet (10GE) PHY technology. As a pioneer in the 10GE PHY technologies, Quake was the first company to successfully deliver an entire production- worthy product line for a broad range of distances, from short to long reach.
"We are pleased to announce the successful completion of this acquisition. We look forward to integrating our technology and customer assets in order to develop 10G Ethernet solutions for the Enterprise and Service Provider markets," said Kambiz Hooshmand, president and CEO of AMCC. "Our strategy is focused on converged information and storage networks based on IP and Ethernet. As a result of this acquisition, AMCC is now a leader in the 10G Ethernet market."
Under the terms of the agreement, AMCC acquired all outstanding shares of Quake for approximately $69 million in cash (net of Quake's estimated cash and receivables that AMCC assumed in the deal). AMCC plans to consolidate its design groups in Ottawa into a single facility and continue to benefit from the experienced engineering talent of the Ottawa area.
AMCC is a global leader in network and embedded PowerPC processing, optical transport and storage solutions. Our products enable the development of converged IP-based networks offering high-speed secure data, high-definition video and high-quality voice for carrier, metropolitan, access and enterprise applications. AMCC provides networking equipment vendors with industry-leading network and communications processing, Ethernet, SONET and switch fabric solutions. AMCC is also the leading vendor of high-port count SATA RAID controllers enabling low-cost, high-performance, high-capacity storage. AMCC's corporate headquarters are located in Sunnyvale, California. Sales and engineering offices are located throughout the world. For further information regarding AMCC, please visit our web site at http://www.amcc.com.