Cirrus Logic Completes Sale of Wireless Infrastructure Equipment Group Of PCSI.FREMONT, Calif.--(BUSINESS WIRE)--Dec. 16, 1996--Cirrus Logic Inc. (Nasdaq:CRUS) today announced that it has completed the sale of the Wireless Infrastructure Equipment group of PCSI PCSI Pacific Communication Sciences, Inc. PCSI Patient Classification Systems International PCSI Pakistan Cotton Standard Institute PCSI Perfect Channel State Information PCSI Polymer Coatings and Surfacings Institute (R), its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. based in San Diego, to ADC Telecommunications Inc. in Minneapolis. Cirrus Logic reports that the sale to ADC (1) See A/D converter. (2) (Apple Display Connector) A peripheral connector from Apple that combines digital video display, USB and power in one cable. involved a cash transaction worth approximately $23 million. The company will realize a net gain on this transaction in the financial statement of the current fiscal quarter (Q3) ending December 31, 1996. With this transaction, ADC has purchased one of the three PCSI business units, specifically the operation that is currently producing CDPD (Cellular Digital Packet Data) A low-speed, digital, wireless data network that is an enhancement to an existing analog cellular network. Based on IBM's CelluPlan II, CDPD provides a packet overlay onto the AMPS network and moves data at 19. (Cellular Digital Packet Data (communications, protocol) Cellular Digital Packet Data - (CDPD) A wireless standard providing two-way, 19.2 kbps packet data transmission over exisiting cellular telephone channels. ) base station equipment for wireless service providers, and developing pACT (personal Air Communications Technology) base stations for AT&T Wireless Services Inc. According to Cirrus Logic, the remaining PCSI business units, namely the Semiconductor Products group and Subscriber Unit group, continue to operate from their San Diego headquarters. Headquartered in Fremont, Calif., Cirrus Logic Inc. is a leading manufacturer of advanced integrated circuits for the desktop and portable computing, telecommunications, and consumer electronics markets. Additional information about Cirrus Logic and its subsidiaries can be accessed on the World Wide Web at http://www.cirrus.com/ or via fax-on-demand at 800/359-6414 (dial 510/249-4200 from outside the United States). CONTACT: Cirrus Logic Inc. Tom Rigoli, 510/226-2259 (Corporate Communications) Mark Singer, 510/226-2112 (Investor Relations Investor relations The process by which the corporation communicates with its investors. ) trigoli@corp.cirrus.com mark@corp.cirrus.com |
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