TriQuint Completes Agere Systems Acquisition

January 05, 2003 by Jeff Shepard

TriQuint Semiconductor Inc. (Hillsboro, OR) announced that it completed the acquisition of a substantial portion of the Agere Systems optoelectronics business for $40 million in cash. The transaction includes the products, technology and some facilities related to Agere's optoelectronics business, which includes active and passive components, amplifiers, transceivers, transponders, and MEMS.

As part of the transaction, approximately 340 Agere employees will join TriQuint, including approximately 215 in Pennsylvania and 125 in Matamoros, Mexico. Through a transitional manufacturing agreement, Agere will supply components for TriQuint for a short period following the transaction closing to ensure seamless service to customers. The majority of the components will be manufactured in Agere's Breinigsville, PA, facility that TriQuint will acquire following the transition period. TriQuint will also operate the back-end assembly and test operations at a leased facility in Matamoros.