NeoMagic (R) Corporation Announces Acquisition of Advanced Microwave Inc.
NeoMagic Corporation (OTC: NMGC), today is pleased to announce a significant milestone with the acquisition of Advanced Microwave Incorporated.
Milpitas, CA, November 08, 2023 --(PR.com)-- Established in 1995, Advanced Microwave (www.advmic.com) Inc. has earned a distinguished reputation as a pioneering force in the design, R&D,manufacturing, and marketing of cutting-edge RF components, subsystems, mixers, amplifiers, data log Amplifiers, filters and converters tailored for both commercial and military applications. The company's hallmark innovation lies in its unique manufacturing process, fusing soft board (duroid) and alumina substrate (ceramic) into a singular package, creating a remarkably resilient and durable product capable of withstanding the most demanding environmental conditions.
"We are thrilled with the acquisition of Advanced Microwave, Inc.," expressed David Tomasello, Chairman of NeoMagic Corporation. "This transaction allows NeoMagic to enter new areas of growth, including the defense industry.”
Syed Zaidi, President, and CEO of NeoMagic, echoed his enthusiasm for the acquisition, stating, "Today signifies the dawn of a new and exciting chapter for NeoMagic, as we welcome Advanced Microwave Inc. into the fold. Their exceptional and innovative products lineup seamlessly aligns with NeoMagic's commitment to providing our customers’ with top-tier solutions and products. We are eager to build upon Advanced Microwave Inc.'s legacy and elevate it to a prominent position in the marketplace."
NeoMagic Corporation remains actively engaged in the exploration of strategic partnerships, joint ventures, and potential mergers and acquisitions, all aimed at expanding our product and technology portfolio.
For more information, please contact Investor Relations at IR@neomagic.com.
