Vitesse Semiconductor agreed to acquire Multilink Technology Corporation for approximately 4.2 million VTSS shares, valued at approximately $22.9 million. Multilink Technology supplies mixed-signal integrated circuits and VLSI products for optical networking systems. The company's product portfolio spans the markets from Ethernet and storage access to long haul optical transport. Multilink is headquartered in Somerset, New Jersey.
http://www.vitesse.com
http://www.mltc.com/
- For Q1 2003, Multilink reported revenue of $1.0 million, compared with $1.4 million for Q4 2002 and $10.1 million in Q1 2002. Multilink's top three customers for Q1 2003 were Lucent, ADVA and Cisco, representing 36%, 9% and 8% of total revenues, respectively. A major restructuring was underway.
Multilink Technology Corporation was founded in 1994 and completed its IPO in June 2001. The company is headed by Dr. Richard N. Nottenburg, one of its founders and previously a distinguished member of the technical staff at Bell Labs.
