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Entropic Signs RF Magic

Entropic Communications has signed a definitive agreement to acquire RF Magic

April 10, 2007

1 Min Read

SAN DIEGO -- Entropic Communications, Inc., the leader in home networking for digital entertainment, announced today that it has signed a definitive agreement to acquire RF Magic, Inc., a leading developer of broadband radio frequency (RF) systems-on-a-chip. Terms of the deal were not disclosed.

The merging of the two San Diego-based semiconductor companies brings together established complementary technologies focused on the rapidly growing market for connected home entertainment.

The new entity will retain the Entropic Communications name. Patrick Henry, Entropic's current president and CEO will be the CEO of the merged company. Mark Foley, RF Magic's current president and CEO will become the president and COO of Entropic Communications once the deal closes.

"This merger brings together two independently successful companies in one of the fastest growing segments of the semiconductor market. We can now offer customers a comprehensive product portfolio for the connected home entertainment market," stated Patrick Henry, president and CEO of Entropic.

"It's a very natural and ideal fit for both of us. We are both focused on delivering multimedia content into and around the home and have developed two exceptionally talented teams with core competencies not only in chip design but also in systems level design," added Henry.

"With our combined domain expertise in satellite, telco and cable operator-based deployments, we are confident that we have the team in place to take advantage of the market opportunities, much more so than if we remained separate entities," said Mark Foley, president and CEO of RF Magic. "This merger comes at a time when both companies have strong revenue growth and have established themselves and their products as leaders in their respective markets."

Entropic Communications Inc. (Nasdaq: ENTR)

RF Magic Inc.

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