10/3/2002 - Performance Technologies announced it has completed the purchase of a portion of Intel's embedded Communications Platform Division (formerly Ziatech Corporation), finalizing the closing conditions of the definitive agreement. Under the terms of the acquisition, the former San Luis Obispo, California operation of Intel will become a fully owned operating unit of Performance Technologies.
"Now that the acquisition is complete, Performance Technologies and our new Ziatech unit can go to work providing top-of-the-line embedded system products for customers seeking the industry's best in CompactPCI® and PICMG® 2.16-based solutions," said Donald Turrell, president and CEO of Performance Technologies.
The Ziatech line of CompactPCI, PICMG 2.16 and STD 32-based processor modules and system platforms will become an important extension to the Performance Technologies product family that management believes can contribute to the future growth and expansion of the company. The combined products will allow Performance Technologies to serve a broader set of embedded applications in the data communications, telecommunications, military, industrial automation, transportation and medical markets.
About Performance Technologies
Performance Technologies (Nasdaq:PTIX) is a global supplier of innovative, packet-based communications and networking equipment. With core competencies in embedded IP/Ethernet, wide area networking and SS7/IP interworking, we offer both hardware and software solutions vital to existing and emerging networks. Our proven products for embedded switching, network access and SS7 network replacement offer cost-saving benefits and time-to-market advantages to companies developing telecom, enterprise and military applications. Performance Technologies is headquartered in Rochester, New York. Additional engineering facilities are located in San Diego, California and Ottawa, Canada.
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