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Consideration for 98% of the equity interest in SoSi that was not owned by TranSwitch is valued at approximately $0.9 million

March 28, 2002

1 Min Read

SHELTON, Conn. -- TranSwitch Corporation (NASDAQ:TXCC) announced today that it has acquired privately held Systems On Silicon, Inc. (SOSi), which specializes in providing silicon solutions for Intelligent Integrated Access Devices (IADs) in Customer Premise Equipment (CPE) for converged voice and data networks. The consideration for 98% of the equity interest in SOSi that was not owned by TranSwitch is valued at approximately $0.9 million and will be payable in cash. TranSwitch will also assume liabilities of approximately $1.7 million. This transaction is not expected to significantly impact TranSwitch's loss per share as adjusted for the first quarter of 2002. SOSi will be operated as a wholly-owned subsidiary after the closing. "With this acquisition, TranSwitch will broaden its product offerings that address the global demand for modernization of the public access network," stated Dr. Santanu Das, President and Chief Executive Officer of TranSwitch Corporation. "We are excited to welcome SOSi to our team and look forward to capitalizing on their innovative technology." TranSwitch Corp. Systems on Silicon Inc. (SoSi)

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