Mindspeed Technologies completes acquisition of Picochip

Mindspeed Technologies completes acquisition of Picochip

Acquisition creates clear leader in small cell wireless technology for next generation mobile broadband communications. Combined company to showcase expanded product line at Mobile World Congress in Barcelona

NEWPORT BEACH, Calif., Feb. 7, 2012 – Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier of semiconductor solutions for network infrastructure applications, today announced that it has completed the acquisition of privately held, U.K.-based Picochip Limited.

Picochip is the leading supplier of integrated system-on-chip (SoC) solutions for small cell base stations. Picochip pioneered the femtocell market and has developed the industry’s broadest portfolio of next generation small cell solutions for enterprise, metro and residential base stations. With over one million SoCs shipped to-date, Picochip is the most broadly deployed small cell semiconductor solution on the market.

“This marks the closing of the most strategic and exciting acquisition in Mindspeed’s history,” said Raouf Y. Halim, Mindspeed’s chief executive officer. “Mindspeed and Picochip are now one company that is well positioned to lead the market for small cell base station solutions for next generation mobile broadband communications. Our combination bolsters and accelerates our position in both 3G/high speed packet access (HSPA) and 4G/long-term evolution (LTE), and we believe we will have the number one market position in deployed small cell processors worldwide, with 70% market share in 3G/HSPA deployments.”

Mindspeed will host demonstrations and meetings for customers, partners, press and analysts at Mobile World Congress 2012 in booth 1E.57 at the Fira Montjuïc in Barcelona, Spain from February 27 to March 1, 2012 during its first public trade show presence since the completion of the acquisition. The company plans to introduce an expanded product line of base station SoC solutions as well as a compelling product roadmap that leverages the combined capabilities of Mindspeed and Picochip.

www.mindspeed.com