June 5, 2001 - Further strengthening its position in wireless communications technologies, National Semiconductor Corporation (NYSE:NSM) today said it has reached an agreement to acquire Wireless Solutions Sweden AB, a leading developer of wireless solutions ranging from telemetry to mobile phones to wireless networking, including Bluetooth? and 802.11 technologies. Wireless Solutions is a subsidiary of Allgon AB, which focuses on mobile phone infrastructure products such as antenna systems, other base station components and handset antennas. The transaction is expected to close within a week for a cash purchase price of approximately $23.5 million plus the assumption of certain liabilities.
The acquisition will enable National to deliver complete wireless reference designs including silicon chipsets, hardware and software. These reference platforms will accelerate time to market for National's customers by providing system designs ready for approval and production. The acquisition also enhances National's intellectual property resources in wireless technologies such as GSM/GPRS, Bluetooth, 802.11, and WCDMA. The company plans to first use Wireless Solutions' technologies in National's GSM/GPRS mobile handset reference design, as well as Bluetooth and wireless LAN products.
"This addition is a perfect extension of our recent InnoCOMM acquisition and our ongoing strategy for complete wireless system solutions," said William Stacy, vice president of National's Wireless Division. "Wireless Solutions integrates chips with boards and software to provide reference designs complete with manufacturing specifications and the required type approvals needed to market wireless products. National can now offer our wireless customers a complete one-stop shopping capability," he added.
Wireless Solutions, founded in 1997, is based in Stockholm, Sweden, and employs approximately 50 employees. They will remain in Stockholm and will operate as a development center for National's Wireless Group, reporting to Stacy.
"We are excited to become a part of National Semiconductor, a world leader in wireless technology," said P?Bergsten, president and technical director of Wireless Solutions Sweden AB. "This will ensure that our worldwide customers get the best wireless solutions for use in their end products."
This is the second wireless technology acquisition that National has made in 2001. In February, National acquired InnoCOMM Wireless, a leading developer of wireless networking solutions based in San Diego, California. InnoCOMM's 45 skilled wireless technologists now operate in National's wireless design center in San Diego. a
About Wireless Solutions Sweden AB
The company is focused on wireless solutions such as Bluetooth, local area networks, including home networking, and wideband access systems based on the IEEE 802.11b standard. Current products include Bluetooth adapters for mobile phones, computers, personal assistants and printers; as well as wireless local area network systems.
About National Semiconductor
National Semiconductor is the premier analog company driving the information age. Combining real-world analog and state-of-the-art digital technology, the company is focused on the fast growing markets for wireless handsets; information appliances; information infrastructure; and display, imaging and human interface technologies. With headquarters in Santa Clara, California, National reported sales of $2.1 billion for its last fiscal year and has about 10,000 employees worldwide. Additional company and product information is available on the World Wide Web at www.national.com.
