August 1, 2006 – AMIS Holdings Inc. said that its subsidiary AMI Semiconductor Inc. has agreed to acquire NanoAmp Solutions Inc.’s ultralow power (ULP), six-transistor (6T) SRAM and medical system-on-chip (SoC) SIC business for approximately $21 million in cash.
NanoAmp develops low-voltage and ULP memory and ASIC solutions for the wireless communication, industrial, medical, and networking market segments. The 0.18-micron-based ULP SRAM technology is used as embedded IP in implantable medical SoC applications. NanoAmp’s SRAM business is the only part of the deal that is currently delivering revenue (projected $7-$8 million in 2006); the rest consists primarily of designs that are still in development.
For AMIS, the deal combines “class-leading” ULP SRAM technology with its ULP mixed-signal and digital signal processing capabilities, boosting its position in the implantable medical market, stated Christine King, president and CEO of AMI Semiconductor. AMIS also gains medical-qualified ULP SRAM technology in either embedded IP or as ASSPs, as well as design wins for 0.18-micron SoCs, she added.
The acquisition, expected to close in 3Q06, will be neutral to non-GAAP earnings/share in 2006, and be accretive by $0.01/share in 2007.