Microelectronics Technology Inc. and RadioComp ApS Sign Equity and Intellectual Property Acquisition Agreements
October 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 ApS
RadioComp is a global pioneer within the developing and manufacturing state-of-the-art fully softwareconfigurable 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.
About Microelectronics Technology Inc.
Established in 1983, Microelectronics Technology Inc. (MTI) was Taiwan’s first microwave and satellite communications company. For over 25 years, MTI has pioneered the wireless communications industry in Taiwan and continuously cultivated the development of microwave integrated circuits, focusing on the flexible and reliable design, manufacturing, and sales of niche and promising products within the microwave electronics market. MTI’s work and contribution have been essential in solidifying Taiwan’s position in the global high-tech arena. For more information, please visit www.mti.com.tw.