Maxim buys Phyworks for $72.5million
Maxim has acquired Phyworks in a cash deal which values the latter at approximately $72.5million.
Maxim's ceo Tunc Doluca said: "Business and consumer appetite for access to information anywhere, anytime, will continue to grow exponentially. The backbone to support the increased data traffic is high speed optical networks. Additionally, optical networks are now beginning to reach consumers directly with fibre to the home. The addition of Phyworks' product portfolio and talent to Maxim strengthens our market position to capitalise on this growth."
According to Maxim, the acquisition will sit well alongside its optical transceiver product line and is likely to open new high speed product opportunities. In particular, Phyworks' products for fibre to the home are said to complement Maxim's datacom and telecom portfolio.
"Phyworks is very pleased to be joining Maxim," said Stephen King, pictured, Phyworks' president and ceo. "As the optical communications markets continues to evolve, technologies from both companies can be combined to create higher performance, lower cost solutions that will enable end users to build next generation optical networks. Maxim is the ideal partner for our customers and for our employees, and this combination strengthens Maxim's position as a leader in the markets we share."
