Fairchild Semiconductor Announces Sale of RF Business Assets to ANADIGICS
Fairchild Semiconductor announced that it has closed a transaction to sell selected assets of its RF Group to ANADIGICS, Inc., for cash.
The RF Group assets include licenses to intellectual property, customer and vendor lists, equipment and selected leases. ANADIGICS has hired 23 RF design and engineering professionals from the RF Group and will maintain the design center in Massachusetts. As part of the transaction, ANADIGICS has agreed to assist Fairchild’s transition out of the RF business by providing both business and technical support for a period of time.
Fairchild claims that the divestiture of the RF Group and assets allows the company to more sharply focus its resources on the design and manufacturing of power semiconductor products that drive energy efficiency in the communications, computing, industrial, ultra portable and automotive market segments, and analog and mixed-signal products for signal path applications in ultra portable segments. Fairchild expects the hiring by ANADIGICS, an industry leader in power amplifiers for wireless and broadband applications, of the RF employees to provide the employees and ANADIGICS with new growth opportunities. The transaction is not expected to have a material impact on Fairchild’s financial statements.
