M/A-COM to Acquire GaAsTek Business
Lowell, MA. M/A-COM announced today that it has reached an agreement with ITT Industries, Incorporated, to acquire ITT s GaAsTEK business unit. GaAsTEK will operate as part of M/A-COM, a subsidiary of Tyco Electronics. The purchase is expected to close in early March.
GaAsTEK, located in Roanoke, Virginia, develops and manufactures Gallium Arsenide (GaAs) Monolithic Microwave Integrated Circuits (MMICs) for commercial and defense markets. GaAsTEK utilizes a unique and patented GaAs MMIC process, called Multifunction Self-Aligned Gate (MSAG=AE). The MSA= G process provides excellent power amplifier performance and allows the integration of multiple circuit functions onto a single MMIC.
M/A-COM President Rick Hess said, "This acquisition strengthens ourposition in both companies major markets, wireless and defense. It provides us with increased wafer fabrication capacity and a strong MMIC power amplifier design and manufacturing capability. We re delighted to have the GaAsTEK team joining M/A-COM."=20
"GaAsTEK is an excellent complementary fit to M/A-COM s existing businesses," said Paul Gralnick, President of GaAsTEK. "We re excited about the combination of our two companies and looking forward to helping M/A-COM achieve greater growth in its major markets."
Headquartered in Lowell, MA, M/A-COM is a leading supplier of radio frequency (RF), microwave and millimeter wave semiconductors, components and IP networks to the wireless telecommunications and defense-related industries. M/A-COM s products include semiconductor devices, RF integrated circuits, passive and control devices, antennas, subsystems and systems. Employing more than 2,800 people, M/A-COM has offices and manufacturing facilities worldwide.
ITT Industries, Inc. is a global engineering and manufacturing company generating 1999 sales of $4.6 billion. ITT Industries is the world s largest pump manufacturer and a major supplier of sophisticated military defense systems. The company also produces connectors, switches and cabling used in telecommunications, computing, aerospace and industrial applications, as well as network services. Further ITT Industries makes industrial components for a number of other markets including transportation, construction and aerospace. Based in White Plains, NY, the company employs approximately 35,000 people around the world.
MSAG=AE is a registered trademark of ITT Industries.
Contact:
Amy Ecker Miller/Shandwick Technologies
Tel: 617/351-4117
aecker@miller.shandwick.com
Dave Hutcheson M/A-COM
Tel: 978-442-4047
hutchesd@tycoelectronics.com
Amy Ecker Miller/Shandwick Technologies
Tel: 617/351-4117
aecker@miller.shandwick.com
Dave Hutcheson M/A-COM
Tel: 978-442-4047
hutchesd@tycoelectronics.com
E-mail: hutchesd@tycoelectronics.com
