Maxim purchases the Storage Products Business of Vitesse Semiconductor located in Colorado for $63 million in cash. An additional amount up to $12 million in cash will be payable by Maxim upon the achievement of certain commercial milestones through the end of Vitesse's 2008 fiscal year on September 2008. Maxim will acquire substantially all of the assets of this business subject to customary closing conditions, including obtaining all necessary governmental approvals and clearances. The transaction is expected to close in the fourth calendar quarter of 2007. The acquisition brings Vitesse's Serial Attached ATA (SATA), Serial Attached SCSI (SAS) Expander products, Enclosure Management products and Baseboard Management products into the Maxim product portfolio. Maxim intends to offer employment to more than 50 of Vitesse's engineers and technical experts in connection with the acquisition.