SUNNYVALE, Calif., Feb. 19, 2009 (GLOBE NEWSWIRE) -- Maxim Integrated Products (Nasdaq:MXIM) announced today that it has acquired the Wireless Control and Secured Transaction product lines from Zilog, Inc. (Nasdaq:ZILG). Maxim expects the acquisition of these product lines will be accretive to earnings and cash flow in its fiscal year 2009 and later.
Wireless Control Product Line
In this transaction, Maxim and Universal Electronics Incorporated (Nasdaq:UEIC) jointly purchased the Wireless Control business of Zilog. Maxim purchased the hardware portion of the Wireless Control product line from Zilog, which consists of the microcontroller silicon chip business and supporting intellectual property. Maxim intends to combine the Zilog wireless microcontroller product line with its own unique, ultra-low power Infrared (IR) microcontroller family. UEI purchased the software portion of Zilog's Wireless Control product line, which consists of its patents, universal remote database and software, and related assets. The combination of Maxim's low-power microcontrollers and UEI's industry leading IR databases will enable customers to design and manufacture universal remote controls with advanced features, improved performance, and longer battery life.
Secure Transaction Product Line
Maxim also acquired Zilog's Secure Transaction product line, which features the Zatara(r) 32-bit ARM(r)-based microcontroller family of high performance ARM System-on-Chips (SoCs) used in PCI (Payment Card Industry) payment terminals. These products deliver a highly secure computing environment that enables customers to accelerate time to market and reduce costs in security-critical applications.
"Maxim's purchase of the Secure Transaction business is consistent with our strategy to strengthen our position in the POS (point of sale) and ATM markets," said Chris Neil, Division Vice President of Maxim. "This acquisition allows us to further leverage the application and software expertise recently added by our purchase of Innova Card to create the highest performance, fully integrated SoCs and most complete open software platform for financial transaction terminal markets."
"SAFE HARBOR" STATEMENT
This release contains statements concerning the potential benefits of Maxim's acquisition of the Wireless Control and Secured Transaction product lines from Zilog. These forward-looking statements are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, Maxim's expectation that the acquired product lines will be accretive to earnings and cash flow in its fiscal year 2009 and later, as well as its belief that the acquisition will allow Maxim to further leverage the application and software expertise recently added by its purchase of Innova Card to create the highest performance, fully integrated System on a Chip and most complete open software platform for financial transaction terminal markets. These statements are based on current expectations and are subject to certain risks, uncertainties and assumptions, many of which are outside the control of Maxim. These risks and uncertainties include, but are not limited to: changes in semiconductor market conditions and demand; technological and product development risks; the future performance of the acquired product lines; the timing and success of Maxim's integration of the Wireless Control and Secured Transaction product lines with Maxim's existing businesses, including the successful transition of personnel, product development, manufacturing and information systems; the ability to realize anticipated synergies with Maxim's existing businesses; the ability to realize the anticipated benefits of intellectual property rights being acquired by Maxim as part of the Wireless Control and Secured Transaction products lines; and general economic conditions. For a detailed discussion of factors affecting Maxim's business generally and other factors that may influence future results, please see Maxim's filings with the U.S. Securities and Exchange Commission. Maxim does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Maxim
Maxim Integrated Products is a publicly traded company that designs, manufacturers, and sells high-performance semiconductor products. The Company reported revenue in excess of $2 billion for fiscal 2008. Maxim was founded over 25 years ago with the mission to deliver innovative analog and mixed-signal engineering solutions that add value to its customers' products. To date, it has developed over 5,900 products serving the industrial, communications, consumer, and computing markets. For more information, go to www.maxim-ic.com.
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About Zilog, Inc.
Zilog is a global supplier of application specific, embedded system-on-chip (SoC) solutions for secured transactions, consumer electronics and industrial application and an industry leader in remote control and universal IR database solutions. From its roots as an award-winning architect in the microprocessor and microcontroller industry, Zilog has evolved to become a leader in production-ready and custom-built SoC solution sets including hardware and software. Zilog is headquartered in San Jose, California, with sales offices in Asia, Europe, and North America. For more information about Zilog and its products, visit http://www.Zilog.com/.
About Universal Electronics Inc.
Founded in 1986, Universal Electronics Inc. (UEI) is the global leader in wireless control technology for the connected home. UEI designs, develops, and delivers innovative solutions that enable consumers to control entertainment devices, digital media, and home systems. The company's broad portfolio of patented technologies and database of infrared control software have been adopted by many Fortune 500 companies in the consumer electronics, subscription broadcast, and computing industries. UEI sells and licenses wireless control products through distributors and retailers under the One For All(r) brand name. UEI also delivers complete home control solutions in the professional custom installation market under the brand name Nevo(r), as well as software solutions for digital media control and enjoyment in the consumer and OEM markets under the brand SimpleCenter(tm). Visit www.uei.com for more information.