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| [April 19, 2012] |
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Microchip Technology Acquires Roving Networks
CHANDLER, Ariz. --(Business Wire)--
Microchip Technology (News - Alert) 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 (News - Alert) 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.
Forward-Looking Statements
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 cstomer 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 (News - Alert) 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 (News - Alert)™ 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 http://www.microchip.com/get/CMKT.
Note: The Microchip name and logo, and PIC are registered
trademarks of Microchip Technology Inc. in the USA and other countries.
All other trademarks mentioned herein are the property of their
respective companies.
Tags / Keywords: Wi-Fi,
Bluetooth,
Embedded,
Low
Power, Wireless,
Connectivity
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