SANTA ROSA - TriAccess Technologies, the small telecom startup launched at the bottom of the telecom slump, was acquired by TriQuint Semiconductor Inc. (Nasdaq: TQNT) it was announced today.
TriAccess makes a video chip that uses radio frequency to amplify signals at the subscriber's premise, with customers in both the cable and telecom industries. Hillsboro, Ore.-based TriQuint supplies high-performance radio frequency modules, components and foundry services to the top five mobile phone manufacturers; to the makers of wireless handsets, laptops and base stations; and to the military. The company has manufacturing facilities in Oregon, Texas and Florida and a production plant in Costa Rica.
TriAccess will become a TriQuint design center, said TriAccess Vice President of Marketing and Sales Brian Bauer.
"They liked our cable TV and fiber-to-the-premises product portfolio, and they liked our strong footprint in the cable TV industry," he said.
Terms of the acquisition were not disclosed.
In a separate action, the TriQuint board of directors has approved issuance of 170,300 stock options to the ten former employees of TriAccess. TriQuint is currently trading at $7.50.
Twenty-three-hundred-employee TriQuint had been a supplier to TriAccess for the last four years.
"We ... believe that together we can accelerate our success in multiple CATV and fiber optic video markets worldwide," said TriAccess President, CTO and founder Chris Day. "We are anxious to further utilize TriQuint's process technology and assembly and test resources. TriQuint is well-known and highly respected by our customers, providing additional confidence that we are a dependable and stable source of supply."
According to Ralph Quinsey, president and CEO of TriQuint, the new Santa Rosa design center is expected to grow, although he declined to go into details.
"They've built a terrific product. They'll bring us new customers, and I anticipate greater sales of their line of products as a result of the acquisition," he said.