Date: 20/11/2010

PMC-Sierra's Wintegra acquisition is done

PMC-Sierra, Inc. has completed the acquisition of Wintegra, Inc., providers of network processors for mobile backhaul equipment. In accordance with the terms of the transaction announced on October 21, 2010, PMC-Sierra paid approximately $240 million in cash for the acquisition, less estimated cash and short-term deposits acquired of approximately $26 million at time of closing. Further, up to an additional $60 million of cash consideration may be paid if certain growth and performance milestones are reached by the end of 2011.

PMC-Sierra says this acquisition accelerates its product offering in IP/Ethernet packet-based mobile backhaul equipment and fits strategically with its overall efforts to accelerate the transition of existing communications equipment to converged, packet-centric solutions. Wintegra's WinPath family of network processors are used in 3G/4G base stations, fiber and microwave cell site routers, as well as radio network controllers deployed in mobile networks worldwide.

Wintegra has approximately 165 employees located primarily in Ra'anana, Israel, and Austin, Texas.