Maxim Acquires PhyworksMaxim Acquires Phyworks

SUNNYVALE, Calif. -- Maxim Integrated Products, Inc. (Nasdaq:MXIM) announced today that it has acquired privately held Phyworks Ltd. for approximately $72.5 million in cash.

Maxim CEO Tunc Doluca remarked: "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 fiber to the home. The addition of Phyworks' product portfolio and talent to Maxim strengthens our market position to capitalize on this growth."

Maxim Integrated Products Inc. (Nasdaq: MXIM)