TriQuint Acquires Agere Optoelectronics Business

HILLSBORO, Ore., Jan. 3 -- TriQuint Semiconductor Inc. announced it completed the acquisition of a substantial portion of the Agere Systems optoelectronics business for $40 million in cash. The transaction includes the products, technology and some facilities related to Agere's optoelectronics business, which includes active and passive components, amplifiers, transceivers, transponders and MEMS. The transaction does not include Agere's business providing optoelectronics components for CATV systems based in California.

As part of the transaction, approximately 340 Agere employees will join TriQuint, including approximately 215 in Pennsylvania and approximately 125 in Matamoros, Mexico, the company said.

Agere announced in August 2002 it was seeking a buyer for all or parts of this business and exiting the optoelectronics business as part of its corporate restructuring.

Through a transitional manufacturing agreement, Agere will supply components for TriQuint for a short period following the transaction closing. The majority of these components will be manufactured in Agere's Breinigsville, Pa., facility, which TriQuint will acquire following the transition period. TriQuint will also operate the back-end assembly and test operations at a leased facility in Matamoros, Mexico.

For more information, visit: www.tqs.com