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Exhibit
99.1
Contacts
Brian Bronson, RadiSys
Corporation
503-615-1281
brian.bronson@radisys.com
Bill Calder, Intel
Corporation
503-264-5669
bill.calder@intel.com
NEWS
RELEASE
RADISYS ENTERS INTO
AGREEMENT TO ACQUIRE INTEL’S MODULAR
COMMUNICATIONS PLATFORMS
ATCA, CPCI, & LEGACY BUSINESS ASSETS
Acquisition enhances
RadiSys AdvancedTCA product family and expands customer
base
SANTA CLARA, Calif., Sept. 10,
2007 – RadiSys Corporation and Intel Corporation today
announced that they have signed a definitive agreement for Intel to
sell certain assets of its modular communications platforms
business to RadiSys. The acquisition will further RadiSys’
global leadership position in ATCA platforms and solutions for
telecommunication equipment manufacturers worldwide and is expected
to close in September, subject to normal closing conditions. The
consideration for this transaction will consist of a purchase price
of $25 million plus $6.75 million of inventory and other
considerations. RadiSys expects the transaction to add at least $50
million of ongoing revenue per year once integrated into
RadiSys’ operations.
“RadiSys is pleased to add the
Intel modular communications platform assets to our product
portfolio and is committed to ensuring our new customers needs are
well serviced both in the short and long term,” said Scott
Grout, RadiSys president and CEO. “With a 20-year history of
technology leadership and customer commitment in the communications
and embedded segments, and as a Premier member of the Intel
Communications Alliance, RadiSys is the perfect home for these
products and customers. The addition of the Intel modular
communication assets to our award winning Promentum™ product
family helps us accelerate our ATCA product strategy, broadens our
customer base and expands our addressable market.”
The two companies will be working
together during the coming months to seamlessly transition the
assets in order to continue to offer high quality service and
support to all customers. A significant number of the employees
associated with these product lines, including engineering, product
testing/validation, operations and marketing personnel are expected
to accept offers from RadiSys and transition with the product
lines. Products associated with the sale include ATCA compute and
packet processing blades, ATCA chassis, and Chassis Management
Hardware and Software Modules, AMC module as well as cPCI blades,
cPCI chassis, and other legacy systems products.
“Intel is sharpening its focus on
communications
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