REMEC to acquire Pacific Microwave Corp.

San Diego, California–REMEC, Inc., a designer and manufacturer of high-frequency subsystems, has entered into an agreement to acquire Pacific Microwave Corp. (PMC), a privately held microwave electronics manufacturing company located in the Republic of the Philippines. PMC specializes in the manufacture, assembly, and test of RF, microwave, and gallium arsenide (GaAs) devices, components, subsystems, and systems for broadband voice, video, and data transmission over wireless communications networks.

“The demand for high-frequency microwave integrated assemblies using hybrid ‘chip-and-wire’ technology for broadband wireless applications is growing at a rapid rate,” says Ron Ragland, chairman and CEO of REMEC. “This acquisition will enable REMEC to further address the strong customer demand for its products and advance our stated goal to develop world-class manufacturing leadership for wireless infrastructure. This acquisition compliments our Costa Rican endeavors and does not detract from our plans to develop our engineering and manufacturing capacity in China.”

The agreement is subject to the execution of a definitive purchase agreement, final approval of the board of directors and shareholders of REMEC, and other customary terms and conditions. Both parties intend to close the transaction by the end of January 2001.


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