San Jose, CA, Aug. 30, 2013 – Micrel Inc., (Nasdaq:MCRL), an industry leader in high performance linear and power solutions, LAN and timing and communications solutions, today announced it has signed a definitive agreement to acquire the business of Discera Inc., a leading provider of silicon timing solutions. The acquisition is intended to complement Micrel’s high performance clock and timing products, as well as expand its MEMS (micro-electrical mechanical systems) capabilities. The transaction is expected to close in September of 2013. Micrel expects the acquisition will be slightly dilutive in 2013 and neutral to slightly accretive in 2014 on a GAAP basis.
Discera has been on the forefront of MEMS resonator development, creating a disruptive technology in the timing space. Discera's PureSilicon™ oscillators and Crystal-less™ clock generators provide a variety of significant benefits to timing customers, including system-wide cost effective solutions, enhanced ruggedness, space savings, and excellent stability over a wide temperature range.
“Micrel’s and Discera’s technologies and products are well aligned from a strategic perspective, bringing more best-in-class products to broader markets and a worldwide customer base. With this addition, along with our PhaseLink acquisition and our recently released ClockWorks ™Flex and Fusion products, Micrel plans to be a one-stop shop for our customers’ high-performance clock and timing needs,” noted Ray Zinn, Chairman and CEO, Micrel. “The acquisition of Discera substantially enhances Micrel’s penetration into the timing market and provides a strong MEMS-based platform for further growth. Micrel has been building MEMS devices for the past 15 years for our foundry customers. The addition of the Discera MEMS product line will greatly enhance Micrel’sMEMS presence and capability. Furthermore, the Discera technical team gives Micrel the intellectual property and technical know-how to pursue not only MEMS-based timing devices but also other types of MEMS devices.”
About Discera
Discera, Inc is a leading timing and clock oscillator company utilizing a proprietary MEMS (micro-electrical mechanical system) resonator enabling lower cost, enhanced ruggedness, smaller size and wider temperature range than historical quartz based solutions. Discera offers rapid delivery of both prototype and production replacements for standard quartz oscillators and innovative products with additional features and functionality normally associated with clock products. Discera was established in 2001 and is headquartered in San Jose, California.
About Micrel
Micrel, Inc. is a leading global manufacturer of IC solutions for the worldwide high-performance linear and power, LAN and timing and communications markets. The Company’s products include advanced mixed-signal, analog and power semiconductors, as well as high-performance communication, clock management, Ethernet switch and physical layer transceiver ICs. Company customers include leading manufacturers of enterprise, consumer, industrial, mobile, telecommunications, automotive, and computer products. Corporation headquarters and state-of-the-art wafer fabrication facilities are located in San Jose, CA, with regional sales and support offices and advanced technology design centers situated throughout the Americas, Europe and Asia. In addition, the Company maintains an extensive network of distributors and reps worldwide. Web: http://www.micrel.com/.
"Forward-Looking" and "Safe-Harbor" Statements are omitted