April 13, 2001 – San Jose, CA – Cypress Semiconductor Corp. has satisfied closing conditions for the acquisition of HiBand Semiconductors.

The acquisition, which will be accounted for on a purchase basis, is designed to broaden Cypress’s portfolio of high-performance physical layer devices for networking applications.

HiBand is a provider of mixed-signal integrated circuits for high-speed communications markets, such as SONET, Ethernet, Fibre Channel, and InfiniBand(TM). The company is currently in the final stages of the development of a 10 Gbps physical layer device for Ethernet applications. Information regarding the number of employees at HiBand or the price of the acquisition wasn’t immediately available.

“HiBand intellectual property will serve as a building block in future generations of high-performance Cypress communications devices,” said Christopher Norris, vice president of Cypress’s data communications division. “As designers seek to build systems that move data at 10 Gbps transmission rates and beyond, they need to transition from electrical to optical technology. HiBand will add to our experience base in key areas, enabling us to accelerate that transition.”