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TMCNet:  Applied Micro Circuits to acquire 100% stake in TPACK

[August 19, 2010]

Applied Micro Circuits to acquire 100% stake in TPACK

Aug 19, 2010 (Datamonitor Financial Deals Tracker via COMTEX) -- Applied Micro Circuits Corporation, a US-based designer and developer of integrated circuits (IC) and storage components, has entered into a definitive stock purchase agreement to acquire TPACK A/S, a Denmark-based provider of chip solutions and the supporting software to telecom equipment manufacturers, for approximately $37 million.

The consideration comprises of $32 million in cash plus up to $5 million in cash earn-outs that are dependent primarily upon TPACK revenues and product development milestones scheduled over the next eighteen months.

Upon completion, TPACK will continue to operate from its Copenhagen office as a wholly-owned subsidiary of Applied Micro. The transaction is expected to close within the next 30 days.

Deal Value (US$ Million) 37 Deal Type Acquisition Sub-Category 100% Acquisition Deal Status Announced: 2010-08-18 Deal Participants Target (Company) TPACK A/S Acquirer (Company) Applied Micro Circuits Corporation Deal Rationale The acquisition will enable Applied Micro to meet the emerging OTN standards and to extend the lessons learned from early customer engagements to improve integration of TPACK's Framer-Mapper and Carrier Packet Processor product lines.

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