Tundra Broadens Product Portfolio with New Power Controllers
OTTAWA, ON, April 7 /CNW Telbec/ - Tundra Semiconductor Corporation
(TSX:TUN), the leader in System Interconnect, today announced the acquisition
of Potentia Semiconductor Corporation ("Potentia Canada") for C$1.4 million in
cash. The acquisition includes the power controller business of Potentia
Canada which Tundra will continue to operate. Tundra is not acquiring the
digital video display device business of Potentia Canada. This business
including all of its current employees and its customers will proceed as a new
venture under the "Potentia Semiconductor Corporation" name.
The acquisition adds five new power controllers to Tundra's product
portfolio. The Tsi205(TM), Tsi206(TM), Tsi248(TM), Tsi252(TM) and Tsi257(TM)
Power Controllers are now available from Tundra's worldwide sales network.
Tundra's new Power Controllers offer customers an integrated solution to
control power distribution in next-generation communications, networking and
storage systems, resulting in faster time-to-market and reduced design
complexity.
"This acquisition brings Tundra a number of positive benefits. A broader
product offering to our current customer base as well as additional revenue,
margin and tax benefits," said Jim Roche, President and Chief Executive
Officer, Tundra. "By adding these devices to our product portfolio, customers
can take advantage of Tundra's leadership in System Interconnect combined with
industry-leading power controller devices."
"Although we expect a one time gain in the range of $4.5 to $5.0 million
to our GAAP earnings in this fiscal quarter, we are not adjusting our previous
guidance nor do we expect a significant impact to our pro-forma earnings in
the future," said Norm Paquette, Chief Financial Officer, Tundra. "Tundra will
fully reinvest the product revenue, margin and tax benefits from this
acquisition in its System Interconnect strategy."
ABOUT TUNDRA
Tundra Semiconductor Corporation (TSX:TUN) is the global leader in System
Interconnect providing world-class support and leading edge semiconductor
solutions to the world's foremost communications, networking, storage system,
and information technology vendors. Consistently delivering on system level
performance promises that reduce time to market, Tundra System Interconnect
ensures market advantage in wireless infrastructure, storage networking,
network access, military, industrial automation, and information technology
applications. For more information, please visit www.tundra.com.
TUNDRA is a registered trademark of Tundra Semiconductor Corporation
(Canada, U.S. and U.K.). TUNDRA and the Tundra logo are registered marks of
Tundra Semiconductor Corporation (Canada - registration in the United States,
European Union, and People's Republic of China pending). Tsi205, Tsi206,
Tsi248, Tsi252 and Tsi257 are trademarks of Tundra Semiconductor Corporation.
Other registered and unregistered trademarks are the property of their
respective owners.
(C) Copyright 2006 Tundra Semiconductor Corporation. All rights reserved.
Information subject to change without notice.
