Hsinchu, Oct. 3, 2010 - Microelectronics Technology Inc. (stock code: 2314; hereinafter referred to as the Company) announces that it has signed equity and intellectual property purchase agreements with the Danish company RadioComp ApS (hereinafter referred to as RadioComp). Both Boards have approved the agreements, whereby the Company acquires RadioComp’s equity and intellectual property for a total of US$11.53 million. RadioComp will be held by the Company as a 100% subsidiary.
RadioComp is a pioneer in software and hardware for advanced wireless communications enhancing the Company's research and development capabilities within this area. With the acquisition of RadioComp’s intellectual property, the Company substantially extends its range of core technologies for the development of fourth generation mobile communications technology and Long Term Evolution (LTE) related products. This will boost the Company’s existing position within LTE Frequency Division Duplexing (FDD LTE) technology and will act as a further step towards launching solutions for Time Division Duplexing (TDD LTE/TD-LTE), all of which will accelerate the expansion of the Company’s product lines.
Following the purchase of TelASIC’s R&D team, the Company has successfully developed it’s RRH market position and has realized a significant growth in revenue based on its RRH product offering. With the acquisition of RadioComp, the Company intends to combine its hardware and software R&D capabilities and will actively develop its 4G market. This will provide the Company with a more comprehensive portfolio and assist in expanding its relationships with existing customer. The acquisition will further establish a unique position for the Company within European markets by introducing a European base of operations. This will create opportunities for market development and business expansion, and will stimulate the growth of the Company.
About RadioComp Inc.
RadioComp is a global pioneer within the developing and manufacturing state-of-the-art fully software-configurable and remotely tunable radio head products and radio components, and a leading provider of modular RF systems and components for existing and next generation mobile and wireless infrastructure networks. RadioComp is an expert within research and development as well as the application of RRH to WiMax/3GPP LTE mobile technologies. Radiocomp provides custom system design, with their main customers being manufacturers and academic institutions. For more information, please visit www.radiocomp.com
MTI was founded in 1983 as the first RF and Microwave design and manufacturing company in Taiwan. Internationally recognized today as a global leader in supplying RF and microwave products, MTI designs and manufactures products for Cellular Base Stations Backhaul, Remote Radio Heads for LTE, Satellite Receivers and Communications, Terrestrial Radio, and Broadband Wireless Access applications. With award winning quality systems in place and a proven track record for high-volume manufacturing and shipments in excess of 1M pcs/month, MTI is focusing its resources on innovating and developing RFID UHF Reader products for high-volume manufacturing and to enable triggering of mass market and ubiquitous adaptation of RFID. For further information please visit www.mti.com.tw