LOWELL, Mass., April 7, 2014 (GLOBE NEWSWIRE) -- M/A-COM Technology Solutions Holdings, Inc. (Nasdaq:MTSI) (MACOM), a leading supplier of high performance RF, microwave, and millimeter wave products, today announced that its Mindspeed Technologies, Inc. subsidiary has entered into a definitive agreement to sell its CPE communication processor business to Freescale Semiconductor, including the ComcertoTM 100, 1000 and 2000 product families of multicore embedded processors. MACOM plans to retain the related Comcerto VoIP processor business as a long-term holding. The transaction is subject to customary closing conditions and is expected to close in the second calendar quarter of 2014. The terms of the transaction were not disclosed.
"We are pleased to have reached a definitive agreement for Freescale to purchase the CPE business," said John Croteau, President and Chief Executive Officer. "This divesture is consistent with the vision that we outlined in December to focus our efforts on Mindspeed's complementary high performance analog business and follows our successful sale of Mindspeed's wireless infrastructure business to Intel in February. This transaction demonstrates further execution on our integration strategy and a commitment to our leadership position in the high performance analog, RF, microwave and millimeter wave markets."
M/A-COM Technology Solutions Holdings, Inc. (www.macom.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, M/A-COM Tech is certified to the ISO9001 international quality standard and ISO14001 environmental management standard. M/A-COM Tech 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, The First Name in Microwave and related logos are trademarks of MACOM. Mindspeed and Comcerto are trademarks of Mindspeed Technologies, Inc. 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 timing and any expected results of the proposed sale of the CPE business, plans for the VoIP business and MACOM's commitment to our leadership position in the high performance analog, RF, microwave and millimeter wave 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 timing or ultimate success of CPE divesture 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, failure to satisfy any closing conditions of the proposed transaction, indemnification claims, litigation or other costs or disputes associated with the CPE divesture, 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.
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Source:M/A-COM Technology Solutions Inc.