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Date: 20-08-13

Maxim to acquire Volterra Semiconductor

Maxim has entered into a definitive agreement to acquire Volterra Semiconductor Corp. by agreeing to pay approximately $605 million equity value or $450 million net of Volterra's cash position of approximately $155 million. Volterra develops power management solutions for the enterprise, cloud computing, communications, and networking markets. For an analog IC company like Maxim, power management is becoming increasingly important due to its growth potential. Power IC market is attractive both by size and growth.

"Maxim Integrated is known for its highly integrated solutions. With Volterra, we will strengthen our position in the enterprise and communications markets," said Tunç Doluca, Maxim's President and Chief Executive Officer. "We add a very talented team and leading-edge proprietary technology in high-current power management solutions, which further diversifies our business model."

"This is an attractive transaction for our employees, customers, and investors," said Jeffrey Staszak, Volterra's President and Chief Executive Officer. "The Volterra team will build upon Maxim's scale and market leadership to expand our ability to deliver innovative and differentiated products to our customers. We remain committed to providing our customers with advanced technology solutions and world-class quality and support. Joining forces with the innovative Maxim team will present exciting new opportunities for Volterra's talented employees."

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