| For Immediate Release |
Contact: Jeremy Milner
401-862-9422
jeremy@jeremymilner.com
Courtney Chandler
617-375-4217
courtney@revolutionpartners.com |
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MTI and TelASIC Announced Assets Purchase Agreement
Hsinchu, Taiwan and Los Angeles, CA, USA, May 22, 2009 - Microelectronics Technology Inc. (TSE code: 2314, "MTI"), a wireless telecommunication product designer & manufacturer, and TelASIC Communications Inc. ("TelASIC"), a leading developer of Remote Radio Head (RRH) products for WCDMA/HSDPA and WiMAX/LTE infrastructure, today announced that they have signed a definitive agreement for MTI to acquire substantially all tangible and intangible assets related to TelASIC's RRH product lines, including the R&D team, for an undisclosed sum. Today, the board of directors of both companies approved the transaction.
Under this agreement, MTI will acquire a R&D team of approximately 30 highly qualified designers with abundant product development experiences in RRH related products. With the new R & D team on board, MTI can significantly enhance its capability in developing state-of-art RRH products and increase its competitiveness internationally. In addition, by acquiring the existing key patents and intellectual properties of TelASIC, MTI will be able to reduce radically the time to market of MTI's RRH products. Furthermore, on top of thecurrent applications to WCDMA/HSDPA infrastructure, RRH can also |
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beapplied to 4G Long Term Evolution products. Leveraged on the RRH technology and product capability, MTI will be able to expand the existing product lines and widen its customer base to catch more business opportunities emerging from the increased telecommunication infrastructure spending sponsored by public authorities globally.
"To build up an international R&D team is not only a challenge but also extremely great opportunities to MTI. Through the synergy generated from the collaboration between the two outstanding R&D teams and MTI's production technology, MTI can benefit for future business growth and a sustainable and long-term success." said Mr. Allen Yen, President and CEO of Microelectronics Technology Inc.
Following the acquisition, through the enhanced R&D capabilities generated from the integration, MTI can provide comprehensive product lines, which will strengthen MTI's international competitiveness, consolidate its existing customer relations and enable MTI to explore new market and customers in the 3G to 4G business, which in turn will contribute to MTI's growth momentum in the future.
About TelASIC Communications, Inc.
TelASIC Communications is a leading developer of RRH products for WCDMA/HSDPA and WiMAX/LTE infrastructure. TelASIC's highly power-efficient RRHs enable transmission of high output power, which is essential for delivering high data rates and coverage required for mobile TV/video/audio/data-centric 3G data services. The company's products are based on its world-leading expertise in signal processing algorithms for power amplifier linearization and high performance data converters purpose-built for WCDMA/HSDPA and WiMAX/LTE transmission. For more information, please visit www.telasic.com.
About MTI
Microelectronics Technology Inc., is a technology company specialized in wireless communication product development, manufacturing and global sales for more than 26 years. Based on the core competence in microwave and RF technology, MTI has established a leading position in the fields of microwave radios, satellite ODUs and receivers, mobile base station components and broadband wireless access products. With this excellent record of accomplishment, MTI has established long-term partnerships with world's leading communication equipment providers. For more information, please visit www.mti.com.tw.

Revolution Partners, a division of Morgan Keegan, is one of the nation's largest middle market investment banks specializing in mergers and acquisitions, private capital advisory and complete public equity capital markets services for the technology industry. Revolution Partners is highly-regarded for its expertise in particular technology niches including software, Internet business services, telecommunications, wireless, clean tech, digital media, storage and semiconductors.
Revolution Partners was founded in 2001 by former senior technology bankers from major Wall Street investment banks. The firm's bankers have executed M&A transactions exceeding $10 billion in value over the course of their careers, including some of the most successful mergers in the industry. The partners also have raised over $6 billion of private capital for more than 100 clients. Today, with offices in Boston, Los Angeles, New York and San Francisco, Revolution Partners continues to apply its partner-level experience to the successful execution of advisory and financing transactions for emerging technology companies.
In 2008 Revolution Partners was acquired by Morgan Keegan & Company, Inc. whose investment banking, brokerage and asset management capabilities are delivered by 4,400 employees from 300 offices. The firm is a subsidiary of Regions Financial (NYSE: RF), one of the nation's largest full-service providers of consumer and commercial banking, trust, securities brokerage, mortgage and insurance products and services. Together with Morgan Keegan, Revolution shares an entrepreneurial culture and commitment to high-quality transaction execution led by experienced senior bankers. For more information, visit www.revolutionpartners.com.
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