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News Article

AMI Semiconductor, Inc. to acquire NanoAmp Solutions

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AMI Semiconductor, Inc., subsidiary of AMIS Holdings, Inc. announced that it entered into an agreement to acquire the Ultra Low Power (ULP) six-transistor (6T) SRAM and medical System-on-Chip (SOC) ASIC businesses of NanoAmp Solutions Inc. for approximately $21 million in cash, plus an adjustment for closing inventory of the business.
Under conditions of the proposed sale, to be structured as an asset purchase, AMI Semiconductor, Inc. will acquire certain assets and assume certain liabilities related to NanoAmp Solutions' medical SOC business and its ULP 6T SRAM business, which collectively employ approximately 25 people in the United States, Korea and Taiwan. "By combining NanoAmp's class-leading ULP SRAM technology with our ULP mixed-signal and digital signal processing capabilities, we are able to enhance our core competencies and strengthen our position in the implantable medical market," stated Christine King, president and CEO of AMI Semiconductor. "In addition, this acquisition adds medical-qualified ULP SRAM technology to our core competencies, available as embedded IP or as ASSPs, as well as new design wins in the 180nm Medical SOC market. This strengthens our commitment to provide unique, value-add solutions to our medical customers.""AMI and NanoAmp are both recognised IC suppliers to the implantable medical market; the pooling of respective technologies and resources would strengthen the new team's ability to provide ultra low power, integrated SOC solutions to serve our customers' future IC requirement," stated Hugo Chan, president of NanoAmp's Medical Group.The businesses to be acquired consist primarily of designs that are still in development; however, the SRAM business is currently providing revenue, anticipated at approximately $7 - $8 million for all of 2006. The transaction is expected to close during the third calendar quarter 2006.
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