LOWELL, Mass., Feb. 24, 2014 (GLOBE NEWSWIRE) -- M/A-COM Technology Solutions Holdings, Inc. (Nasdaq:MTSI) (MACOM), a leading supplier of high performance analog, RF, microwave and millimeter wave products, today announced that its subsidiary Mindspeed Technologies, Inc. has completed a previously announced sale of assets of its wireless infrastructure business unit to Intel Corporation. The transaction price was not disclosed.
"As outlined in the announcement of our definitive agreement to acquire Mindspeed on November 5th, Mindspeed's divestment of assets of its wireless infrastructure business unit has been successfully completed," said John Croteau, President and Chief Executive Officer. "This successful strategic divestiture allows MACOM to remain focused on our customers and core competencies within the high performance analog, RF, microwave and millimeter wave markets."
M/A-COM Technology Solutions Holdings, Inc. (www.macomtech.com) is a leading supplier of high performance analog RF, microwave, and millimeter wave products that enable next-generation Internet and modern battlefield applications. Recognized for its broad catalog portfolio of technologies and products, MACOM serves diverse markets, including high speed optical, satellite, radar, wired & wireless networks, CATV, automotive, industrial, medical, and mobile devices. A pillar of the semiconductor industry, we thrive on more than 60 years of solving our customers' most complex problems, serving as a true partner for applications ranging from RF to Light.
Headquartered in Lowell, Massachusetts, MACOM is certified to the ISO9001 international quality standard and ISO14001 environmental management standard. MACOM has design centers and sales offices throughout North America, Europe, Asia and Australia.
MACOM, M/A-COM, M/A-COM Technology Solutions, M/A-COM Tech, Partners in RF & Microwave, Partners from RF to Light, The First Name in Microwave and related logos are trademarks of MACOM. All other trademarks are the property of their respective owners.
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements based on MACOM management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include, among others, statements concerning the Mindspeed wireless asset sale and MACOM's continuing to remain focused on our customers and core competencies within the high performance analog and RF and microwave markets
Forward-looking statements contained in this press release reflect MACOM's current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause those events or our actual activities or results to differ materially from those expressed in any forward-looking statement. Although MACOM believes that the expectations reflected in the forward-looking statements are reasonable, it cannot and does not guarantee future events, results, actions, levels of activity, performance or achievements, including the ultimate success of the Mindspeed wireless asset sale or successful execution of any other plans described in this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements, including, among others, indemnification claims, litigation or other costs or disputes associated with the Mindspeed wireless asset sale, related restructuring activities, failure to achieve anticipated benefits of the transaction, and other factors described in "Risk Factors" in MACOM's filings with the Securities and Exchange Commission (SEC), including its Quarterly Report on Form 10-Q for the fiscal quarter ended January 3, 2014 as filed with the SEC on February 12, 2014. MACOM undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
CONTACT: Company Contact: M/A-COM Technology Solutions Holdings, Inc. Jessen Wehrwein Director, Corporate Communications P: 978-656-2853 E : firstname.lastname@example.org Investor Relations Contact: Shelton Group Leanne K. Sievers EVP, Investor Relations P: 949-224-3874 E: email@example.com
Source:M/A-COM Technology Solutions Inc.