Maxim Integrated Products Announces Completion of Acquisition of Vitesse's Storage Product Business
SUNNYVALE, CA -- (MARKET WIRE) -- Oct 29, 2007 --
Maxim Integrated Products, Inc. (PINKSHEETS
) ("Maxim" or the "Company") today announced that it has completed the
previously announced purchase of the Storage Products Business of Vitesse
Semiconductor Corporation (PINKSHEETS
) located in Colorado Springs,
Colorado for approximately $63 million in cash. An additional amount up to
$12 million in cash will be payable by Maxim upon the achievement of
certain commercial milestones through the end of Vitesse's 2008 fiscal year
on September 30, 2008.
Maxim's acquisition of the Storage Productions Business includes Vitesse's
Serial Attached ATA (SATA) products, Serial Attached SCSI (SAS) Expander
products, Enclosure Management products and Baseboard Management products.
Maxim Integrated Products is a leading international supplier of quality
analog and mixed-signal products for applications that require real world