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Filed by Applied Micro Circuits Corporation pursuant to Rule 425 under the
Securities Act of 1933
Subject Company: MMC Networks, Inc. Commission file No. 333-45660
FOR ADDITIONAL INFORMATION:
William Bendush, Vice President, Chief Financial Officer
(858) 450-9333
Debra Hart, Investor Relations Manager
(858) 535-4217
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FOR IMMEDIATE RELEASE
October 11, 2000
APPLIED MICRO CIRCUITS CORPORATION
ANNOUNCES
TWO-FOR-ONE STOCK SPLIT
San Diego, CA, - October 11, 2000 -Applied Micro Circuits Corporation (AMCC)
[Nasdaq: AMCC] today announced that its Board of Directors approved a two-for-
one stock split, to be effected in the form of a 100% stock dividend.
Holders of AMCC's Common Stock will receive one additional share of Common Stock
for every share held on the record date of October 16, 2000. The additional
shares will be distributed on or about October 30, 2000 by the Company's
transfer agent, ComputerShare Investor Services.
The stock split will also automatically cause the exchange ratio in the proposed
MMC Networks merger to adjust so that each share of MMC Networks common stock
outstanding at the effective time of the merger will convert into 1.238 shares
of AMCC common stock. There will be an equivalent adjustment automatically made
to all MMC Networks options assumed in the merger. The other terms of the
merger are unaffected by the stock split.
AMCC designs, develops, manufactures, and markets high-performance, high-
bandwidth silicon solutions for the world's optical networks. The Company
utilizes a combination of high-frequency analog, mixed-signal and digital design
expertise coupled with system-level knowledge and multiple silicon process
technologies to offer integrated circuit products that enable the transport of
voice and data over the fiber optics networks. AMCC's corporate headquarters
and wafer fabrication facilities are located in San Diego. Sales and consulting
engineering offices are located throughout the world.
For further information regarding AMCC please visit our Web site at
http://www.amcc.com or call our shareholder information line at (888) 982-AMCC
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(2622).
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WHERE YOU CAN FIND MORE INFORMATION
Investors and security holders are urged to read the prospectus/proxy statement
regarding the proposed merger because it contains important information about
the transaction. The prospectus/proxy statement has been filed with the
Securities and Exchange Commission by AMCC and MMC Networks. Investors and
security holders may obtain a free copy of the prospectus/proxy statement and
other documents filed with the Commission at the Commission's web site at
http://www.sec.gov. The prospectus/proxy statement and these other documents
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may also be obtained free from AMCC or MMC Networks.
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