Hittite Microwave Corporation to Purchase the Assets of Keragis Corporation

Acquisition Will Enable Hittite to Provide Extremely High Power, Wideband Amplifiers

CHELMSFORD, Mass.--()--Hittite Microwave Corporation (Nasdaq: HITT) today announced that it has entered into a definitive agreement to buy substantially all the assets of Keragis Corporation, a provider of extremely high power, wideband amplifier modules, located in San Diego, CA. The purchase price was not disclosed.

This acquisition expands Hittite’s power amplifier portfolio and capabilities. This union combines Hittite’s world class capabilities of design and manufacture of high performance integrated circuits (ICs), modules and subsystems with Keragis’ patented extremely wideband high power amplifier module products.

“Keragis’ power amplifiers in combination with Hittite’s semiconductor technologies, synthesizer and up/downconverter module portfolio will allow Hittite to expand its system content in both military and commercial applications that include electronic warfare, radar, communications, and test equipment,” said Rick Hess, President and CEO of Hittite.

Keragis’ power amplifiers utilize both gallium arsenide and gallium nitride semiconductor technologies. The closing of the transaction is expected to occur within the next 90 days.

About Hittite Microwave Corporation

Hittite Microwave Corporation is an innovative designer and manufacturer of high performance integrated circuits, or ICs, modules, subsystems and instrumentation for technically demanding digital, RF, microwave and millimeter-wave applications covering DC to 110 GHz. The company's standard and custom products apply analog, digital and mixed-signal semiconductor technologies, which are used in a wide variety of wireless / wired communication and sensor applications for Automotive, Broadband, Cellular Infrastructure, Fiber Optics, Microwave & Millimeter-wave Communications, Military, Test & Measurement, and Space markets. The company is headquartered in Chelmsford, Massachusetts.

About the Keragis Corporation

Founded in 1993, and privately owned by Robert and Maria Rector, Keragis Corporation has been providing high power, wide-band amplifiers for a number of uses including radar subsystems, rack-mounted instruments, phased arrays and tow decoys. Keragis produces military grade and rugged commercial products of unusually high performance for use in RF and microwave systems. The company is located in San Diego, CA.

“Safe Harbor Statement” under the Private Securities Litigation Reform Act of 1995

Statements in this press release regarding Hittite Microwave Corporation that do not relate to historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, any statements regarding our expectations as to future levels of revenue, net income and earnings per share. Readers are cautioned that these forward-looking statements are subject to risks and uncertainties and are only predictions, and actual future events and results may differ materially from these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the impact of macro-economic conditions on demand for our products; our ability to effectively manage our costs and expenses in response to fluctuations in our growth rate; market acceptance of our new products; our ability to assess accurately our end market requirements; our success in maintaining the business of our significant customers; our ability to keep pace with new semiconductor processes; risks related to our dependence on third-party suppliers; regulatory, operational, financial and political risks inherent in operating internationally; competition within the semiconductor industry; product returns and warranty claims; the possibility that intellectual property claims initiated by or against us could be costly or have adverse outcomes; and other risks and uncertainties that are discussed under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2013, as filed with the Securities and Exchange Commission.

Contacts

Hittite Microwave Corporation
William W. Boecke, 978-250-3343
V.P. and Chief Financial Officer

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Contacts

Hittite Microwave Corporation
William W. Boecke, 978-250-3343
V.P. and Chief Financial Officer