GEO Semiconductor to Acquire Maxim Integrated’s Digital Video Processing Business

Acquisition Provides Critical IP, Single-Chip Solutions and Larger Market Footprint Across Growing Markets

SANTA CLARA, Calif.--()--GEO Semiconductor Inc. ("GEO"), the industry leader in high performance, geometric processing solutions and inventor of the “eWarp” technology platform, announced today that it has entered into an agreement to acquire the digital video processing business from Maxim Integrated Products, Inc. (NASDAQ:MXIM). The transaction is expected to close prior to December 31, 2012. The terms of the transaction were not disclosed.

Through this acquisition, GEO expands its IP portfolio to approximately 100 patents, including a world-class H.264 video compression and audio processing portfolio. This transaction will also provide GEO immediate and greater access to markets such as IP camera, Smart TV, surveillance, tele-presence video communications, and smartphone peripherals. These markets complement GEO’s increasing focus on automotive camera and HUD opportunities. Combining GEO’s proprietary technology with the IP from Maxim will enable single-chip solutions for all of these markets, increasing market share and lowering costs to customers.

GEO’s Chairman and CEO, Paul Russo, commented, “This transaction is transformational for GEO as we are seeing an explosion in camera-based applications in mobile, automotive and industrial applications. Combining our eWarp technology with H.264 compression enables the creation of world-class single-chip (SoC) solutions that reduce the bill of materials and drive massive adoption into these rapidly growing markets.”

Brian Gannon, general manager of Maxim’s digital video processing business commented, “This is a phenomenal combination of IP, products and talent. The combined business will have the impressive collection of video compression technology, streaming audio and video, pioneering ‘eWarp’ geometric correction and Emmy award-winning Realta video processing technology.”

About GEO Semiconductor

GEO is the industry leader in programmable, high performance geometric processor ICs focused on smartphone peripherals, automotive cameras & HUDs and surveillance & video communication markets. GEOs highly patented eWarp platform technology features the lowest power and silicon cost for performing unlimited pixel transformations such as de-warping wide-angle, fisheye and 360 degree video streams and enabling all digital ePTZ (electronic pan/tilt/zoom). In addition, eWarp processors can simultaneously correct for optical distortion and stitch together multiple camera video streams, allowing unlimited numbers of views (transformations) at no additional cost. These capabilities, particularly in automotive camera and HUD markets, result in lower optical system costs as well as significantly reduced manufacturing costs through digital calibration. GEO’s Emmy Award winning Realta (real-time processing of video algorithms in software, trillions ops/sec) platform technology enables ICs that can perform Hollywood-proven video processing in software and in real time on a single device. GEO is headquartered in Santa Clara, California with offices in Toronto and Orlando, and sales channels around the world. www.geosemi.com.

About Maxim Integrated

At Maxim Integrated, we put analog together in a way that sets our customers apart. In Fiscal 2012, we reported revenues of $2.4 billion.

GEO Semiconductor and the cube logo are among the trademarks of GEO Semiconductor Inc. Any other trademarks or trade names mentioned are the property of their respective owners.

Contacts

Company Contact:
GEO Semiconductor Inc.
Paul Russo, 408-844-8800
Chairman & CEO
paul@geosemi.com
or
Investor Relations:
Shelton Group Investor Relations
Beverly Twing, 972-239-5119 x126
btwing@sheltongroup.com

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Contacts

Company Contact:
GEO Semiconductor Inc.
Paul Russo, 408-844-8800
Chairman & CEO
paul@geosemi.com
or
Investor Relations:
Shelton Group Investor Relations
Beverly Twing, 972-239-5119 x126
btwing@sheltongroup.com