Contact:
Michael Angel
Chief Financial Officer
Phone: 408/745-5400
[email protected]
(Graphic Omitted)
or
Michelle Kim
Marketing Communications Manager
SPECTRIAN
408-745-5785
[email protected]
FOR IMMEDIATE RELEASE
SPECTRIAN ANNOUNCES SALE OF ITS ULTRARF DIVISION
TO CREE, INC.
SUNNYVALE, Calif - January 2, 2001 - Spectrian Corp. (NASDAQ: SPCT -news), a
leader in the design and manufacture of ultra-linear power amplifiers for the
wireless infrastructure market, announced today that it has completed the sale
of its UltraRF semiconductor division to Cree, Inc. (NASDAQ: CREE) Cree is a
leader in Silicon carbide semiconductor technology for power amplifier
applications.
Under the terms of the agreement, Cree has purchased the assets of
UltraRF and assumed certain of its liabilities in exchange for approximately
1,816,000 shares of Cree common stock plus additional Cree shares worth $30
million. As part of the transaction, Spectrian and Cree have entered into a
two-year supply agreement under which Cree will supply RF power semiconductors
to Spectrian. Spectrian and Cree have also entered into a one-year joint
development agreement to develop advanced technologies related to
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laterally diffused metal oxide semiconductors (LDMOS), linear high gain LDMOS
driver modules, high efficiency LDMOS power modules, and SiC MESFET components.
"Our new relationship with Cree puts Spectrian in a position to take
advantage of a variety of new technologies which will add competitive advantages
for Spectrian's amplifier business", said Tom Waechter, Spectrian's CEO. "In
addition, now that this transaction has been completed, our management team will
be totally focused on the amplifier business. We can now concentrate our
attention on growth and diversification within the RF amplifier market, and we
now have an even stronger balance sheet."
Spectrian is a leading designer and manufacturer of single-carrier and
multicarrier high-power RF amplifiers for the worldwide wireless communications
industry. Utilized in both wireless data and voice applications, Spectrian
amplifiers support AMPS, CDMA, TDMA, GSM and 3G technologies for mobile and
fixed wireless networks. Spectrian is located at 350 Java Drive, Sunnyvale,
Calif. 94089. For more information, visit the company's Web site at
www.spectrian.com or call 408/745-5400.
North Carolina-based Cree, Inc. develops and manufactures semiconductor
materials and devices based on silicon carbide (SiC), gallium nitride (GaN) and
related compounds. Cree has new product initiatives based on its experience in
SiC and GaN-based semiconductors, including blue laser diodes for optical
storage applications, high frequency microwave devices for radar and other
communications systems, and power devices for power conditioning and switching.
For more information on Cree, visit http://www.cree.com
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Certain statements in this press release, including statements about taking
advantage of new technologies, management focus on the amplifier business, and
growth and diversification, are forward-looking statements that are subject to
risks and uncertainties. The company's results could differ materially based on
various factors including, and without limitation, continued growth in wireless
communication and pauses in such growth as are periodically experienced in the
market; the ability to manufacture new or existing products in sufficient
quantity or quality; and worldwide economic conditions. Further information on
factors that could affect the company's financial results are included in the
company's 2000 Annual Report on Form 10-K and Forms 10-Q for the interim
quarters.
Spectrian is a registered trademark of Spectrian Corporation. Other brand or
product names are registered trademarks or trademarks of their respective
holders.(C)Spectrian Corporation, 2000. All rights reserved.
