WARREN, N.J., April 3 – Anadigics Inc. announced that it has acquired Telcom Devices Corp. in Camarillo, Calif., a manufacturer of indium phosphide-based photodiodes for the telecommunication and data communication markets. The acquisition is part of Anadigics' strategy to provide high-performance, chip set solutions by adding long-wavelength PIN photodiodes and unique packaging capabilities to its fiber product line.
The transaction will be accounted for as a purchase and is valued at $28 million, plus certain earn-out payments tied to future financial performance targets, for a potential total consideration of up to $45 million. The earn-out payments, if the financial performance is achieved, would be payable in the second quarter of 2002.
Anadigics designs and manufactures radio frequency integrated circuit solutions for growing broadband and wireless communications markets.