SUNNYVALE, CA—November 5, 2009—Maxim Integrated Products
(NASDAQ: MXIM) announces that they have reached a definitive agreement with
Intelleflex, a leader in extended capability RFID, that has resulted in the transfer of a
Maxim engineering team, a body of design works, and related IP to Intelleflex. In return
Maxim will receive an equity position in Intelleflex. In addition, Maxim and Intelleflex
will partner on certain go-to-market activities in the future.
Intelleflex President and CEO Peter Mehring commented, "This transaction
combines the leaders in Class 3 RFID. The added development capacity and
complementary design ideas will allow us to accelerate the product road map, and build a
leading position in the applications and markets for Class 3 RFID technology."
Maxim Division Vice President Chris Neil commented, “The combination of
these complementary teams creates a clear leader in this emerging Class 3 RFID
technology. The Maxim team is leading the Class 3 world-wide standards definition and
development, and the Intelleflex team is the leader in extended capability RFID product
development. ”
"We saw this spin-out combination as a natural fit that further strengthens
Intelleflex's position," added Ketan Patel of New Venture Partners, who recently led an
$8M investment round in Intelleflex. "The Maxim team was doing great work on a
parallel path with Intelleflex. By joining forces, they'll be able to move further, faster
toward an impressive set of new extended capability RFID products for major market
impact in 2010 and beyond."
NewVenture Partners LLC, is a global venture capital firm dedicated to corporate
technology spinouts, with over $700 million under management. In total, seven engineers
from Maxim will be joining the team at Intelleflex, and will be based in Dallas, TX and at
Intelleflex's headquarters in Santa Clara, CA.
About Maxim Integrated Products
Maxim Integrated Products is a publicly traded company that designs,
manufactures, and sells high-performance semiconductor products. The Company was
founded over 25 years ago with the mission to deliver innovative analog and mixedsignal
engineering solutions that add value to its customers' products. To date, it has
developed over 6100 products serving the industrial, communications, consumer, and
computing markets. Maxim reported revenue in excess of $1.6 billion for fiscal 2009. A
Fortune 1000 company, Maxim is included in the Nasdaq 100, the Russell 1000, and the
MSCI USA indices. For more information, go to www.maxim-ic.com.
About Intelleflex
Intelleflex is the leader in Extended Capability RFID solutions, products, and
technologies. Its Intelligent RFID Platform, comprising high performance multi-protocol
tags and readers, enables solutions for asset tracking, vehicle / yard management,
manufacturing WIP control, supply chain automation, parts maintenance, access control,
and other applications. It features range, reliability, memory capacity, and security far
beyond standard passive RFID, and at a fraction of the cost of active RFID solutions. For
more information, please visit www.intelleflex.com.