GEO Semiconductor Completes Acquisition of Maxim Integrated's Digital Video Processing Business

SANTA CLARA, Calif. --(Business Wire)--

GEO Semiconductor Inc. ("GEO"), the industry leader in high performance, geometric processing solutions and inventor of the "eWarp" technology platform, announced today that it has completed the acquisition of the digital video processing business from Maxim Integrated Products (News - Alert), Inc. (NASDAQ:MXIM). GEO is now the industry leader with a full range of IP covering all the needed elements for success in multiple mass-markets.

As a result of the acquisition, GEO's IP portfolio now totals approximately 100 patents, including world-class H.264 video compression and audio processing technology. The transaction also provides GEO immediate access to broader markets such as IP and Cloud camera, Smart TV, surveillance, telepresence video communications and smartphone peripherals. These markets complement GEO's increasing focus on automotive camera and HUD opportunities. Combining GEO's proprietary technology with the IP acquired from Maxim will enable single-chip solutions for all of these markets, increasing market share and lowering costs to customers.

GEO's Chairman and CEO, Paul Russo, commented, "We are very pleased to add the Maxim digital video processing team to GEO. Together, we are well-positioned for future growth. With the acquisition of assets from Silcon Optix and Maxim, GEO now has more than 40 customers in volume production. We expect this customer base to expand rapidly as we introduce new world-class single-chip (SoC) solutions combining our eWarp technology with H.264 compression that reduce the bill of materials and drive massive adoption into these rapidly growing markets. This transaction is transformational for GEO as we are seeing an explosion in camera-based applications in mobile, automotive and industrial applications."

About GEO Semiconductor

GEO, with 100 patents and applications, is the industry leader in programmable, high performance geometric processor ICs, H.264 CODECS, video, audio and human interface technologies. GEO is focused on smartphone peripherals, automotive cameras & HUDs, Smart TV, cloud and Skype (News - Alert) communications as well as surveillance & video communication markets. GEOs highly patented eWarp platform technology features the lowest power and silicon cost for performing unlimited pixel transformations such as de-warping wide-angle, fisheye and 360 degree video streams and enabling all camera and HUD calibration... GEO's Emmy Award winning Realta (real-time processing of video algorithms in software, trillions ops/sec) platform technology, enables ICs that can perform Hollywood-proven video processing in software and in real time on a single device. GEO's H.264 CODEC and human interface (gestures, voice processing) ICs are already in volume production with over 40 customers worldwide. GEO is headquartered in Santa Clara, California with offices in Bangalore (India), Cambridge (UK), Toronto (Canada) and Orlando, and sales channels around the world. www.geosemi.com.

About Maxim Integrated

At Maxim Integrated, we put analog together in a way that sets our customers apart. In Fiscal 2012, we reported revenues of $2.4 billion.

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