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WJ expands wireless line with EiC acquisition

Posted: 09 Jun 2004 ?? ?Print Version ?Bookmark and Share

Keywords:wireless chip? wj communications? eic? power amplifier?

Wireless chip specialist WJ Communications Inc. is paying $12.5 million for rival EiC Corp.

EiC specializes in power amplifiers for wireless infrastructure such as cellular, PHS and PAS base stations, repeaters, WLAN's, cable television, and optical networks.

Under the terms of the deal, WJ Communications will pay $12.5 million in cash and stock for the assets being acquired from of EiC. If the operations achieve certain revenue and margin targets over a 24 month period, EiC will receive up to $14 million more in a combination of stock and cash.

The acquisition is expected to close within 30 days.

The assets being acquired include the line of RFICs for wireless infrastructure, the patents and IP related to the technology, and all the infrastructure business assets of EiC, including the 5V, 12V and 28V HBT semiconductor process lines.

"This acquisition further enhances WJ's strategy of offering customers what we believe is the leading infrastructure RFIC product portfolio in the industry," said Michael Farese, CEO and President of WJ Communications in a statement. "EiC's respected product family is an excellent complement to our market leading products and we believe we can synergistically ramp WJ's revenues by introducing this product family to WJ's wider range of leading customers."

Farese said synergy savings mean the acquisition would contribute $8 to $10 million in revenues over the next twelve months, and significantly expand WJ's market presence in high power amplifiers.

"The highly experienced team of experts coming to WJ from EiC will be instrumental in helping us accomplish our goals as we grow our RFIC business in the coming years," added Farese.

- John Walko

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