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Motorola Computer Group Acquires Blue Wave Systems Inc.

Business Editors/High-Tech Writers

TEMPE, Ariz.--(BUSINESS WIRE)--July 2, 2001

Acquisition of DSP Company Enhances Motorola's Ability to Offer

Highly Integrated Platforms to the Telecommunications Market

Motorola Computer Group, a business unit of Motorola Inc. (NYSE: MOT), Monday announced that it has completed the acquisition of Blue Wave Systems Inc., a Carrollton, Texas-based company that has pioneered the development of high-end, digital signal processing (DSP) hardware and software for telecommunications applications such as media and access gateways.

In connection with this acquisition each fully diluted share of Blue Wave common stock will be exchanged for .443 shares of Motorola common stock. Motorola will exchange approximately 7.25 million of its common shares for the fully diluted common shares of Blue Wave Systems.

This acquisition expands Motorola's leadership in the telecommunications infrastructure marketplace, enabling it to help original equipment manufacturers cut their product development time and get to market faster.

Motorola offers a range of carrier-class telecommunication platforms, many of which are used in applications that also require DSP functionality. This acquisition enables Motorola to offer these platforms with DSP functions already integrated at the hardware and software level.

Blue Wave Systems will operate as part of MCG's telecommunications business unit with major offices in Carrollton and Loughborough, England. Rob Shaddock, previously chief executive officer of Blue Wave Systems, will lead a new Motorola Computer Group application unit, which will focus on providing highly integrated platforms for packet voice and wireless applications.

John Hughes, vice president and director of the Motorola Computer Group telecommunications business, said, "We believe that the combined skills of Motorola Computer Group and Blue Wave Systems give us the powerful ability to offer OEM solutions for wireless and gateway applications and we plan to capitalize on this strategy.

"Our plan to offer more complete solutions to our OEM customers will allow them to focus on adding value to their unique applications and getting products to market in as little time as possible."

About Blue Wave Systems, a wholly owned subsidiary of Motorola

Blue Wave Systems, a wholly owned subsidiary of Motorola, is a leading supplier of high-channel Digital Signal Processing (DSP) subsystems used in telecommunication infrastructure equipment, such as voice over packet (VoIP) gateways, digital wireless communications and intelligent peripherals.

The ComStruct(TM) line of telecom infrastructure communication processing subsystems was launched in January 1999.

At the heart of the ComStruct(TM) line is the company's FACT(TM) software (Framework Architecture for Communication Technologies), which enables the DSP subsystem to be rapidly and effectively deployed in a variety of carrier class telecom applications. Blue Wave Systems has been a market leader in DSP board-level products since 1983.

About Motorola

Motorola Computer Group (MCG) is a business unit of the Motorola Integrated Electronic Systems Sector (IESS).

MCG is the world's leading supplier of B2B embedded computing platforms for telecommunications, network storage, imaging, medical equipment and semiconductor production and test equipment applications, with core competencies in services and training, design, manufacturing and systems integration capabilities.

IESS is a leading provider of advanced electronic products and systems for customers integrating electronics into their products. Motorola IESS solutions provide the brains -- the DigitalDNA(TM) -- that make electronic systems simpler, safer, smarter and more synchronized.

Motorola Inc. is a global leader in providing integrated communications solutions and embedded electronic solutions. Sales in 2000 were $37.6 billion.

MOTOROLA, the Stylized M Logo and all other trademarks indicated as such herein are trademarks of Motorola Inc.(R) Reg. U.S. Pat. & Tm. Off. All other product or service names are the property of their respective owners. (c)2001 Motorola Inc. All rights reserved. Printed in the U.S.A.
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Publication:Business Wire
Date:Jul 2, 2001
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