[opendtv] Micronas buys LINX
- From: "John Golitsis" <john@xxxxxxxxxxxxxxxxxx>
- To: "OpenDTV" <opendtv@xxxxxxxxxxxxx>
- Date: Fri, 14 May 2004 15:40:12 -0400
Micronas to Provide Best-in-Class ATSC Receiver Technology
ZURICH, Switzerland, May 14 /PRNewswire/ -- Micronas (SWX Swiss Exchange:
MASN; Frankfurt: MNSN; Prime Standard Segment, TecDAX) today announced that it
has signed an agreement to acquire LINX Electronics, Inc., a fabless
semiconductor company that develops innovative digital television solutions
for improved reception of high-definition television (HDTV) signals. This
transaction, which is expected to be completed in June 2004, will enable
Micronas to further expand its comprehensive TV system solutions portfolio.
The purchase price of approximately USD 26 million will be paid in cash
and Micronas' shares. Chicago-based LINX Electronics employs a highly
acclaimed HDTV technology team of about 20 engineers and brings complementary
technology to Micronas. The purchase includes all development activities and
patents held by LINX Electronics.
"With this acquisition we have taken another decisive step forward in our
digital TV business, strengthening our position in the TV market and providing
increased value and services for our customers," said Micronas' vice president
consumer products unit, Hans-Juergen Desor. "Our existing strength in Digital
Video Broadcast (DVB) technology, combined with the expertise gained with this
acquisition, puts us in the excellent position to shape the era of global
migration from analog to digital TV."
"HDTV is a reality now! Our technology enables an exciting new TV
experience," explained Wayne Li, co-founder of LINX Electronics. "As part of
the Micronas Group, we will be able to better serve these markets by offering
manufacturers innovative and comprehensive system solutions for their future
applications."
Since the late 1980s, the global economic superpowers have been in a race
to bring digital TV to the consumer market. Three international standards have
been created: US-ATSC (Advanced Television Systems Committee), Europe-DVB
(Digital Video Broadcast), and Japan-ISDB (Integrated Services Digital
Broadcasting). The US is currently the largest HDTV market, with deployment
accelerating due to a phase-in plan mandated by the US Federal Communications
Commission (FCC) requiring TV manufacturers to integrate digital TV tuners
into nearly all their TV products by 2007. LINX Electronics has developed a
breakthrough ATSC compliant receiver technology that delivers superior
reception to more consumers. Typical applications include HDTVs, set-top
boxes, personal video recorders (PVRs), DVD recorders as well as PC tuner
cards. LINX Electronics has a solid background in addressing new digital TV
broadcasting formats.
About Micronas
Micronas, a semiconductor designer and manufacturer with worldwide
operations, is a leading supplier of cutting-edge IC and sensor system
solutions for consumer and automotive electronics. As a market leader in
innovative, global TV system solutions, Micronas leverages its expertise into
new markets emerging through the digitization of audio and video content.
Micronas serves all major consumer brands worldwide, many of them in
continuous partnerships seeking joint success. While the holding is
headquartered in Zurich (Switzerland), operational headquarters are based in
Freiburg (Germany). Currently, the Micronas Group employs about 1750 people.
In 2003, it generated CHF 767 million in sales. For more information on
Micronas and its products, please visit http://www.micronas.com.
Safe Harbor Statement: This press release contains forward-looking
statements based on current expectations or beliefs, as well as a number of
assumptions about future events. These statements and all other statements
that are not historical facts are subject to factors and uncertainties that
could cause actual results to differ materially from those described in the
forward-looking statements. The reader is cautioned not to put undue reliance
on these forward-looking statements, which are not a guarantee of future
performance and are subject to a number of uncertainties and other factors,
many of which are outside the control of LINX and Micronas.
SOURCE Micronas
Web Site: http://www.micronas.com
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