Hittite Microwave Corporation To Purchase The Assets Of Keragis Corporation
Hittite Microwave Corporation (Nasdaq: HITT) today announced that it has
entered into a definitive agreement to buy substantially all the assets
of Keragis Corporation, a provider of extremely high power, wideband
Hittite Microwave Corporation (Nasdaq: HITT) today announced that it has entered into a definitive agreement to buy substantially all the assets of Keragis Corporation, a provider of extremely high power, wideband amplifier modules, located in San Diego, CA. The purchase price was not disclosed. This acquisition expands Hittite’s power amplifier portfolio and capabilities. This union combines Hittite’s world class capabilities of design and manufacture of high performance integrated circuits (ICs), modules and subsystems with Keragis’ patented extremely wideband high power amplifier module products. “Keragis’ power amplifiers in combination with Hittite’s semiconductor technologies, synthesizer and up/downconverter module portfolio will allow Hittite to expand its system content in both military and commercial applications that include electronic warfare, radar, communications, and test equipment,” said Rick Hess, President and CEO of Hittite. Keragis’ power amplifiers utilize both gallium arsenide and gallium nitride semiconductor technologies. The closing of the transaction is expected to occur within the next 90 days. About Hittite Microwave Corporation Hittite Microwave Corporation is an innovative designer and manufacturer of high performance integrated circuits, or ICs, modules, subsystems and instrumentation for technically demanding digital, RF, microwave and millimeter-wave applications covering DC to 110 GHz. The company's standard and custom products apply analog, digital and mixed-signal semiconductor technologies, which are used in a wide variety of wireless / wired communication and sensor applications for Automotive, Broadband, Cellular Infrastructure, Fiber Optics, Microwave & Millimeter-wave Communications, Military, Test & Measurement, and Space markets. The company is headquartered in Chelmsford, Massachusetts. About the Keragis Corporation Founded in 1993, and privately owned by Robert and Maria Rector, Keragis Corporation has been providing high power, wide-band amplifiers for a number of uses including radar subsystems, rack-mounted instruments, phased arrays and tow decoys. Keragis produces military grade and rugged commercial products of unusually high performance for use in RF and microwave systems. The company is located in San Diego, CA.
Hittite Microwave (HITT) stock has been downgraded to "neutral" from "buy," D.A. Davidson said Tuesday. The firm said the recent bid from Analog Devices (ADI) to purchase the company for $78 a share will likely close as expected in August.