Micrel acquires RF firm

March 4, 2004 – Micrel Inc., San Jose, CA, has acquired a controlling interest in BlueChip Communications AS, Oslo, Norway, a fabless semiconductor company for radio-frequency (RF) ICs and modules.

Micrel paid about $2 million to gain 94% ownership in the company, with an additional $1 million if certain revenue and profit targets are met in 2004. BlueChip had 2003 revenues of $1.8 million and a net loss of $350,000.

Micrel said it would incur a one-time charge in the March 2004 quarter of $0.3-$0.6 million.


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