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MICRO POWER SYSTEMS CONCLUDES MANAGEMENT-LED BUYOUT

 MICRO POWER SYSTEMS CONCLUDES MANAGEMENT-LED BUYOUT
 SANTA CLARA, Calif., March 9 /PRNewswire/ -- The management of Micro Power Systems Inc. (MPS), a privately held analog semiconductor manufacturer specializing in standard and custom data conversion products, announced today the completion of an eight-month process to purchase controlling interest of the company from a group of private outside investors.
 The recently concluded buyout transaction transfers ownership of the company to MPS'S corporate officers and a group of key employees, headed by Chief Executive Officer Issie Rabinovitch and Chief Operating Officer Raman Rao. Also included in the transaction were Vice President of Marketing and Sales Tom Hardy, Vice President of Design Engineering John Caruso, and Chief Financial Officer Andy Vought.
 According to MPS, no changes in management personnel will occur as a result of the transaction. "One of our company's major assets is its management team," said CEO Rabinovitch. "The successful implementation of major product, process, and customer support programs over the past two years can be directly attributed to a company-wide commitment to teamwork and quality management. The buyout process has strengthened that resolve, building greater stability and higher expectations throughout the company."
 The transaction, which involved cash, preferred stock and notes, valued the company in excess of $10 million. "Management buyouts often increase a company's debt burden," Rabinovitch observed. "We are pleased that this transaction has actually strengthened our balance sheet."
 During the negotiation period, effective fiscal management has permitted MPS to continue developing major additions to its data conversion standard product family. According to Chief Operating Officer Raman Rao, the company will introduce an innovative new series of products in Q2 of 1992 developed on MPS's proprietary BiCMOS process. "Building on more than 20 years of experience in CMOS and BiCMOS process development, MPS continues to define state-of-the-art precision analog and mixed-mode analog-to-digital circuit solutions," said Rao. "In the Spring of this year we will introduce a revolutionary new product architecture that redefines the price/performance limits of related data conversion products."
 Founded in 1971, Micro Power Systems, headquartered in Santa Clara, employs 125 worldwide with direct sales offices in the United Kingdom, Germany, France, and Japan.
 -0- 3/9/92
 /CONTACT: Andrew Vought of Micro Power Systems (company), 408-727-5350; or Marc Koltun of Design Systems Group (editorial) 415-969-4905, for Micro Power Systems/ CO: Micro Power Systems ST: California IN: CPR SU:


RM -- SJ002 -- 6197 03/09/92 08:01 EST
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Publication:PR Newswire
Date:Mar 9, 1992
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