Acquisition Expands Microchip’s Wireless Offerings With Additional Embedded Wi-Fi® Capabilities and New Bluetooth® Connectivity Options for PIC® Microcontrollers
CHANDLER, Ariz. — (BUSINESS WIRE) — April 19, 2012 — Microchip Technology Inc. (NASDAQ: MCHP), a leading provider of microcontroller, analog and Flash-IP solutions, today announced the acquisition of Roving Networks ( http://www.microchip.com/get/7KXS), an innovator in low-power embedded Wi-Fi® and Bluetooth® solutions based in Los Gatos, Calif. Roving Networks is a privately held, fabless semiconductor developer of Wi-Fi certified transceivers and FCC certified Wi-Fi and Bluetooth modules. The terms of the deal are confidential, and the transaction is expected to be immediately accretive on a non-GAAP basis.
“The ubiquity of Wi-Fi and Bluetooth connectivity is fueling a growing number of embedded applications that take advantage of this rapidly expanding wireless infrastructure,” said Ganesh Moorthy, Microchip’s COO. “Roving Networks’ easy-to-use solutions are tailor made for such embedded applications, and broaden the range of wireless connectivity options we offer customers to enable their end-product innovation.”
“Roving Networks’ wireless solutions are well positioned to capitalize on a number of embedded markets, including the market for smartphone accessories,” said Mike Conrad, Roving Networks’ CEO. “Microchip’s operational excellence combined with their broad customer reach and extensive channel presence will be key for the next stage of our growth.”
The Roving Networks team, headed by Mike Conrad, will continue to operate out of its Los Gatos office.
Product Support & Availability
Roving Networks customers should continue to contact Roving Networks through the normal sales and support channels that existed prior to this acquisition announcement. For more information, please visit Roving Networks’ Web site at http://www.microchip.com/get/7KXS or contact Roving Networks at 408-395-5300.
The statements in this release relating to the expectation that the transaction will be immediately accretive on a non-GAAP basis, fueling a growing number of embedded applications, Roving Networks’ solutions being tailor made for such applications and broadening the range of Microchip’s wireless connectivity options, Roving Networks’ wireless solutions being well-positioned to capitalize on a number of embedded markets, Microchip’s operational excellence, broad customer reach and extensive channel presence being key to the next stage of Roving Networks’ growth are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the current expectations of Microchip’s management and are subject to a number of business and economic risks that are inherently uncertain and difficult to predict, including, but not limited to: the effect of the acquisition on Microchip’s and Roving Networks’ existing relationships with customers and vendors and their operating results and businesses; the continued market acceptance of Wi-Fi certified and FCC certified transceivers and Wi-Fi and Bluetooth modules from Microchip and Roving Networks; the progress and costs of development of new Wi-Fi certified and FCC certified transceivers and Wi-Fi and Bluetooth modules and the timing and market acceptance of those products; Microchip’s ability to successfully integrate Roving Networks’ operations and employees and retain key employees; and the general economic, industry or political conditions in the United States or internationally. For a detailed discussion of these and other risk factors, please refer to Microchip’s filings on Forms 10-K and 10-Q. You can obtain copies of Forms 10-K and 10-Q and other relevant documents for free at Microchip’s Web site ( http://www.microchip.com/get/CMKT) or the SEC’s website ( http://www.microchip.com/get/TSD1) or from commercial document retrieval services.
Stockholders of Microchip are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date such statements are made. Microchip does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after this April 19, 2012 press release, or to reflect the occurrence of unanticipated events.
About Roving Networks
The Roving Networks portfolio offers unique solutions for both Wi-Fi and Bluetooth data connections, including those to Smartphones using the iOS (iPhone®) or Android™ operating systems. Roving Networks solutions are typically aimed at sensors requiring long battery life and a responsive availability to network requests. Roving Networks modules offer fully embedded stacks that simplify customer designs, reducing wireless design cycles to weeks instead of months. Additional information may be found at http://www.microchip.com/get/7KXS.
About Microchip Technology
Microchip Technology Inc. (NASDAQ:
MCHP) is a leading provider of
microcontroller, analog and Flash-IP solutions, providing low-risk
product development, lower total system cost and faster time to market
for thousands of diverse customer applications worldwide. Headquartered
in Chandler, Arizona, Microchip offers outstanding technical support
along with dependable delivery and quality. For more information, visit
the Microchip website at