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Entropic Acquires Mobius Semiconductor(GlobeNewswire Via Acquire Media NewsEdge) SAN DIEGO, June 6, 2013 (GLOBE NEWSWIRE) -- Entropic (Nasdaq:ENTR), a world leader in semiconductor solutions for the connected home, announced today it acquired Mobius Semiconductor, Inc., a leading product development company focused on low power, high performance analog mixed-signal semiconductor solutions. Mobius products include high speed ADCs, DACs, ADPLLs, SERDES and proprietary Intellectual Property to achieve leading performance. Under the terms of the transaction, Entropic purchased Mobius for approximately $13 million in cash plus employee equity-based incentives. The acquisition of Mobius enables Entropic to add advanced analog mixed-signal expertise and strengthen its competitive product offerings in both the cable and satellite markets. Founded in 2004, Mobius offers technology which blends signal processing with analog circuit design to dramatically reduce power dissipation while attaining leading-edge performance. The addition of the Mobius technology will enable Entropic to provide cable and satellite operators with solutions that encompass system designs that are low power, broadband, high-speed, and which capture the full bandwidth of the signal payload – to drive more entertainment streams and IP services to more connected devices in the home. This technology can also be leveraged by global satellite service providers to migrate to digital single-wire communications. "By acquiring Mobius, we are reinforcing our commitment to global service providers seeking to advance their next-generation architectures with low power analog mixed-signal silicon solutions," said Patrick Henry, president and CEO, Entropic. "We believe the technology will enhance our product portfolio, enabling us to provide customers more integrated solutions for cable and satellite client and gateway devices, as well as for satellite outdoor unit solutions." With this transaction, Entropic establishes a design center presence in Irvine, Calif., a recognized hub for high-tech semiconductor excellence. Among the team joining Entropic through the acquisition are mixed-signal and digital signal processing veterans and Mobius' founders, Dr. Aaron Buchwald and Dr. Avi Madisetti. About Entropic Entropic™ (Nasdaq:ENTR) is a world leader in semiconductor solutions for the connected home. The Company transforms how traditional HDTV broadcast and IP-based streaming video content is seamlessly, reliably, and securely delivered, processed, and distributed into and throughout the home. Entropic's next-generation Set-top Box (STB) System-on-a-Chip (SoC) and Connectivity solutions enable Pay-TV operators to offer consumers more captivating whole-home entertainment experiences by transforming the way digital entertainment is delivered, connected and consumed – in the home and on the go. For more information, visit Entropic at: www.entropic.com. The Entropic logo is available at //www.globenewswire.com/newsroom/prs/?pkgid=4255 Forward-Looking Statements Statements in this press release that are not strictly historical in nature constitute "forward-looking statements." Such statements include, but are not limited to, statements regarding the anticipated benefits of the acquisition. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Entropic's actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. These factors include, but are not limited to, the risk that Entropic will be required to invest substantially more than presently anticipated in order to realize the expected benefits of the acquisition; risks associated with integrating newly acquired assets and employees into Entropic's existing business; Entropic's reliance on the employees hired in connection with the acquisition and the risk that Entropic will not be able to retain such employees; risk that anticipated benefits of the acquisition will not be realized; technology risks; competition; the risk that the market for Entropic's solutions may not develop as Entropic anticipates; and other factors discussed in the "Risk Factors" section of Entropic's Quarterly Report on Form 10-Q for the quarter ended March 31, 2013. All forward-looking statements are qualified in their entirety by this cautionary statement. Entropic is providing this information as of the date of this release and does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise. Editor's Note: Definitions for abbreviations used in this release are as follows: ADC (Analog-to-Digital Converter), DAC (Digital-to-Analog Converter), ADPLL (All-Digital Phase Locked Loop), and SERDES (Serializer/Deserializer). Copyright © 2013 Entropic Communications, Inc. All rights reserved. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners. CONTACT: Entropic Investor Contact: Debra Hart +1 858.768.3852 [email protected] Entropic Media/Industry Analyst Contact: Chris Fallon +1 858.768.3827 [email protected] Source: Entropic 2013 GlobeNewswire, Inc. |