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MICROCHIP TECHNOLOGY ACQUIRES R&E INTERNATIONAL,
A MIXED-SIGNAL SAFETY AND SECURITY DESIGN COMPANY
Chandler, Arizona – April 8th, 2009 – (NASDAQ: MCHP) – Microchip Technology Incorporated, a leading provider of microcontroller and analog semiconductors, today announced it has acquired R&E International, Inc. on March 31, 2009. R&E International is a privately-held developer of both standard and application-specific integrated circuits (ASICs) focusing on security and life-safety applications, based in Norristown, Pennsylvania. R&E International has supported the varied needs of end-market manufacturers worldwide since 1987 with custom and standard mixed-signal integrated circuit design and manufacturing.
“R&E International is a leader in developing innovative integrated circuits for smoke and carbon monoxide detectors and other life-safety systems,” said Rich Simoncic, vice president of Microchip’s Analog and Interface Products Division. “Microchip today enjoys a strong market position in smoke and carbon-monoxide detector designs with its microcontroller and analog portfolios. R&E International’s strong portfolio of products will extend Microchip’s strong market position in these security and life-safety applications. Microchip intends to leverage R&E International’s technology leadership and market presence to further drive the next generation of these critical high-profile end products.”
“We are very excited that Microchip has added R&E International products to its analog and interface products portfolio,” said Clement Nahmias, president of R&E International. “The combined capabilities of R&E International and Microchip will create new opportunities in the security and sensing markets by enabling more programmability and flexibility for numerous applications.”
The terms of the deal are confidential, and the deal is expected to be immediately accretive to Microchip’s non-GAAP earnings.
Forward-Looking Statements
The statements in this release relating to Microchip’s strong market position in smoke and carbon monoxide detector designs, R&E’s portfolio of products extending Microchip’s market position in security and life-safety applications, Microchip’s intention to leverage R&E’s technology leadership and market presence to drive the next generation of these products, the expectation that the combined capabilities of Microchip and R&E will create new opportunities in the market and the expectation that the deal will be immediately accretive to Microchip’s non-GAAP earnings 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 R&E’s relationships, operating results and businesses generally; the continued market acceptance of products introduced by Microchip and R&E; the progress and costs of development of new safety and security products and the timing of market acceptance of those products; Microchip’s ability to successfully integrate R&E’s 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 (www.microchip.com) or the SEC's Web site (www.sec.gov) 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 8th, 2009 press release, or to reflect the occurrence of unanticipated events.
Customer Support
R&E International’s customers should continue to contact R&E through the normal sales and support channels that existed prior to this acquisition announcement. For more information, please visit R&E International’s Web site at www.randeint.com or contact R&E International at (610) 630-0556.
About R&E International
R&E International, Inc. is a privately held developer and manufacturer of integrated circuits (ASICs) with a product focus on security and life-safety applications. Responding to the needs of electronic equipment manufacturers worldwide since 1987 R&E International Inc. engineers offer proven know-how in custom and standard mixed-signal integrated circuit (ASIC) design and manufacture utilizing CMOS process technologies.
Primary applications for R&E standard integrated circuits include smoke detectors, carbon-monoxide detectors, and security systems (products requiring audible verification of a physical action). R&E custom integrated circuits (ASICs) products can also be found in applications ranging from toys to trucks including scale model trains, alternators, bar-code scanners, gauges, hand-held medical instruments, as well as consumer appliances such as coffee makers, ovens and irons.
About Microchip Technology
Microchip Technology Inc. (NASDAQ: MCHP) is a leading provider of microcontroller and analog semiconductors, providing low-risk product development, lower total system cost and faster time to market for thousands of diverse customer applications worldwide. Headquartered in Chandler, Ariz., Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at www.microchip.com.
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