Acquiring power

Anadigics has acquired the complete Wireless Local Area Network power amplifier and module product lines from RF Solutions.

Anadigics has acquired the complete Wireless Local Area Network (WLAN) power amplifier (PA) and module product lines from RF Solutions, a privately held fabless supplier of WLAN semiconductor products based in Atlanta, GA.

The transaction will be accounted for as a purchase and includes an up front cash consideration of $2.8 million and a contingent payment of up to 3.0 million common shares, based upon achievement of certain revenue targets over the next twelve months.

The acquisition included RF Solutions’ WLAN PA development operation, sixteen employees comprised of engineering, sales and marketing and operations personnel, intellectual property comprised of PA and module product design, certain assets and the assumption of certain liabilities.

Anadigics currently estimates that the transaction will be accretive to earnings on a GAAP basis in 2004.

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