San Diego, California–American Microsystems Inc. (AMI) today announced that Francisco Partners and a Citicorp Venture Capital unit have acquired approximately 80% of the AMI business from Japan Energy Corp. subsidiary GA-TEK, with an enterprise value of more than $525 million. In a related move to reflect its refocused direction, AMI’s name has been changed to AMI Semiconductor (AMIS).
“Today marks two significant changes for our company,” said H. Gene Patterson, AMIS president and chief executive officer. “The first is our acquisition by our new partners and corporate parents, Francisco Partners and Citicorp Venture Capital, who we believe will be of tremendous value in helping us achieve our business objectives. The second is the public announcement of our new identity, which we feel combines the positive aspects of who AMIS has been with a sharpened focus on who we are becoming.”
“We are extremely proud of our 34-year heritage as a pioneer in the world of ASICs and we will continue to build on our current business platform of digital and mixed-signal ASICs and foundry services,” noted Harold Blomquist, AMIS senior vice president, worldwide sales and marketing. “We also recognize the need for a corporate identity that reflects our future, is consistent with the world of the Internet, and is compatible with our future IPO plans while respecting the values and