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Intelleflex President and CEO Peter Mehring commented, "This transaction combines the leaders in Class 3 RFID. The added development capacity and complementary design ideas will allow us to accelerate the product road map, and build a leading position in the applications and markets for Class 3 RFID technology."
Maxim Division Vice President Chris Neil commented, "The combination of these complementary teams creates a clear leader in this emerging Class 3 RFID technology. The Maxim team is leading the Class 3 world-wide standards definition and development, and the Intelleflex team is the leader in extended capability RFID product development."
"We saw this spin-out combination as a natural fit that further strengthens Intelleflex's position," added Ketan Patel of New Venture Partners, who recently led an $8M investment round in Intelleflex. "The Maxim team was doing great work on a parallel path with Intelleflex. By joining forces, they'll be able to move further, faster toward an impressive set of new extended capability RFID products for major market impact in 2010 and beyond."
New Venture Partners LLC is a global venture capital firm dedicated to corporate technology spinouts, with over $700 million under management. In total, seven engineers from Maxim will be joining the team at Intelleflex, and will be based in Dallas, TX and at Intelleflex's headquarters in Santa Clara, CA.
About Maxim Integrated Products
Maxim Integrated Products is a publicly traded company that designs, manufactures, and sells high-performance semiconductor products. The Company was founded over 25 years ago with the mission to deliver innovative analog and mixed- signal engineering solutions that add value to its customers' products. To date, it has developed over 6100 products serving the industrial, communications, consumer, and computing markets. Maxim reported revenue in excess of $1.6 billion for fiscal 2009. A Fortune 1000 company, Maxim is included in the Nasdaq 100, the Russell 1000, and the MSCI USA indices. For more information, go to www.maxim-ic.com.
The Maxim Integrated Products, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5753
About Intelleflex
Intelleflex is the leader in Extended Capability RFID solutions, products, and technologies. Its Intelligent RFID Platform, comprising high performance multi-protocol tags and readers, enables solutions for asset tracking, vehicle / yard management, manufacturing WIP control, supply chain automation, parts maintenance, access control, and other applications. It features range, reliability, memory capacity, and security far beyond standard passive RFID, and at a fraction of the cost of active RFID solutions. For more information, please visit www.intelleflex.com.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Maxim Integrated Products, Inc.
CONTACT: Maxim Integrated Products Paresh Maniar, Executive Director, Investor Relations (408) 470-5348
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