Clare, Inc. Completes Sale Of Reed Switch Business; Divestiture Underscores Company's Semiconductor Focus.Business Editors/Technology Writers BEVERLY, Mass.--(BUSINESS WIRE)--Aug. 13, 2001 Clare, Inc. (Nasdaq:CPCL CPCL Chennai Petroleum Corporation Limited CPCL Computer Program Change Library CPCL Computer Program Control Library CPCL Component Prioritized Collection List ), a global leader in the design and manufacture of high-voltage analog and mixed-signal integrated circuits for the communications market, today announced it has completed the divestiture of its reed switch The reed switch is an electrical switch operated by an applied magnetic field. It was invented at Bell Telephone Laboratories in 1936 by W. B. Elwood. It consists of a pair of contacts on ferrous metal reeds in a hermetically sealed glass envelope. business to Sumida REMtech Corporation, a subsidiary of Sumida Corporation of Japan. Clare previously reported, on July 26, 2001, that it had entered into a definitive agreement to sell all of the assets of its reed switch business for $8 million in cash. "The sale of the reed switch product line completes the transition from an electromechanical The use of electricity to run moving parts. Disk drives, printers and motors are examples. Electromechanical systems must be designed for the eventual deterioration of moving components that wear over time. The first TVs were electromechanical systems (see video/TV history). components manufacturer to a company focused on highly-integrated semiconductor products for the communications, computer, and industrial markets," said Larry Mihalchik, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Clare, Inc. Mr. Mihalchik added, "The sale allows us to completely focus our strategy and products on our core strengths -- high-voltage semiconductor design and fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. , analog and mixed-signal IC design and manufacturing, multi-chip packaging, isolation techniques and knowledge of wireline applications." About Clare Clare, Inc. designs, manufactures and markets high-voltage integrated circuits (ICs) and optically isolated solid state relays (OptoMOS(R)) for the telecommunications markets, as well as mixed-signal custom ASICs and ASSP (Application Specific Standard Part) An ASIC chip that is designed as a generic device for a particular market. Whereas an ASIC is typically used only by its creator, ASSPs are used by many different companies in the design of their products. See ASIC. ICs, such as flat panel OLED (Organic Light Emitting Device, Organic Light Emitting Diode) A thin film light-emitting technology that is expected to compete with LCD and plasma TVs as well as LCD monitors and readouts. display drivers. Clare's products ensure reliable connectivity throughout the global public telecommunications network. The Company's deep heritage in analog/mixed-signal and high-voltage designs enables us to pioneer highly integrated semiconductor solutions that both replace magnetics and enhance performance in wireline interface applications. Clare trades on the NASDAQ exchange under the symbol CPCL. Additional information about Clare can be found at www.clare.com. OptoMOS(R) is a registered trademark of Clare, Inc. |
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