Ad hoc-announcement. The sender is solely
responsible for the contents of this announcement.
Munich (ots Ad hoc-Service) - Infineon to Acquire Catamaran
Communications Inc., San Jose, California - Acquisition Fuels
Infineon"s Communications Strategy in the Wireline Segment
Munich-based Infineon Technologies AG (FSE/NYSE: IFX), one of the
world"s leading semiconductor companies, today announced it has
entered into a definitive agreement to acquire Catamaran
Communications Inc., San Jose, California, an emerging leader in
integrated circuits for the next generation 40 Gbps and fast growing
10 Gbps segments of the optical networking market. Infineon will pay
US$ 250 million in common stock in connection with the acquisition.
MORE INFORMATION is available on our web site
end of ad hoc announcement, (c) DGAP 30.04.2001
Issuer's information/explanation remarks concerning this ad hoc
"With this acquisition we are executing further on our strategy to
strengthen Infineon's leadership in communications," explained Dr.
Ulrich Schumacher, President and CEO of Infineon Technologies.
"Combining our communications expertise with that of Catamaran will
give us a competitive advantage in the fast growing optical
networking market and a leading position in the high speed line card
segment at speeds of 40 Gbps and beyond."
Together with Catamaran, Infineon will have a complete line card
solution, from the optics to the network processor interface. As the
first company to offer this range of capabilities at 40 Gbps, the
combined entity will be optimally positioned to contend for global
market leadership. With the emergence of the optical transponder
concept driving the convergence of the optical and IC technologies,
strong synergies exist between Infineon's fiber optics and high-
speed communications solutions and Catamaran's innovative synchronous
digital hierarchy / synchronous optical network (SDH / SONET) and 10G
ethernet ICs. These devices together form the core of the complete
end-to-end solutions for next generation optical networking systems.
The optical network IC market is forecasted to grow at an overall
CAGR of 45 percent over the next four years, and is expected to reach
annual sales of US$16.17 billion by 2004, according to Cahners
In-Stat group. Catamaran's multi channel 10 Gbps and 40 Gbps framer /
mapper as well as 10 Gbps ethernet digital wrapper products are
positioned to address the fastest growing segments of these markets,
including the emerging metropolitian area network (MAN) application.
"Infineon and Catamaran share a common vision of the need to
deliver high performance solutions that allow customers to bring
leading edge communications systems to market in a timely manner,"
said Subodh Toprani, President and CEO of Catamaran Communications.
"The complementary strengths of the two companies will provide true
value to our customers by making more complete solutions available
and supported worldwide."
Founded in November 1999 by Venkat Vankayalapati, Chief Technology
Officer, Catamaran Communications is a Silicon Valley based fabless
communications semiconductor company focused on OC-768 (40 Gbps) and
OC-192 (10 Gbps) SDH / SONET solutions. Catamaran's mission is to be
the premier supplier of system silicon solutions for high speed multi
service optical networking systems. Catamaran has over 50 employees
with a core competence in SDH / SONET, asynchronous transfer mode
(ATM), time division multiplexing (TDM), packet over SONET (PoS), and
ethernet, along with the capability to develop very large scale
integration (VLSI) devices and system reference board designs. The
company"s products are targeted at the high-growth markets of terabit
routers, add drop multiplexers (ADMs), dense wave division
multiplexers (DWDMs), and digital cross connects (DCS). Catamaran's
investors include Telesoft Partners and Redwood Ventures. Telesoft's
investments include Cerent, Promatory and VxTel, and Redwood's
portfolio includes Cyras, SwitchOn Networks and Stratum One.
Subject to approval by the relevant authorities, Catamaran will
become a wholly owned subsidiary of Infineon. This will allow it to
maintain its start-up approach, while capitalizing on the synergies
with Infineon"s existing wide area network (WAN), fiber optic and
high-speed communication business units, as well as benefiting from
Infineon's worldwide sales channels and global presence.
This news 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 Infineon and Catamaran. The forward-looking statements in
this release address a variety of subjects including, for example,
the expected closing of the acquisition and the potential benefits of
the acquisition. The following factors, among others, could cause
actual results to differ materially from those described in these
forward-looking statements: the integration of Catamarn's and
Infineon's business; costs associated with the acquisition; the
successful completion of the acquisition; including applicable
regulatory requirements relating to the transaction; increased
competition and technological changes in the industries in which
Catamaran and Infineon operate. For a detailed discussion of these
and other cautionary statements, please, refer to Infineon's filings
with the Securities and Exchange Commission.
End of message
Original-Content von: Infineon Technologies AG, übermittelt durch news aktuell