SiRF complete spinoff of Stockholm operation

16 December 2008, 8:50am

SAN JOSE, Calif. and STOCKHOLM, Sweden, Dec. 16 - SiRF Technology Holdings Inc. announced it has completed the spinoff of it's Stockholm operations, SiRF Sweden, back into an independent company with majority ownership by management and employees. The newly independent company name will revert to Kisel Microelectronics -- the original name of the company when SiRF acquired it in 2005. SiRF will retain a 15% stake in Kisel Microelectronics and continue to use the company's services to support certain projects.

"We look forward to operating as an independent design house to continue providing complete RF system and IC design services for our customers, in order to help serve the needs of the growing wireless market," said Johan Tingsborg, managing director of Kisel. "We are especially grateful for the loyalty of our customers who have signed long-term contracts with us to make this transition possible."

"We sincerely appreciate the contribution that SiRF Sweden has made in our product development efforts, and we wish them every success in their independent venture," said Kanwar Chadha, founder of SiRF.

About Kisel Microelectronics

Kisel Microelectronics AB is a leading design house offering complete Radio Frequency (RF) system and Integrated Circuits (IC) design services to customers all over the world to support the growing global wireless market. The company was founded in 2000, acquired in 2005 by SiRF Technology Holdings Inc., and owned by SiRF until November 2008, whereupon the company spun off to once again operate as an independent company. With headquarters in Stockholm, Sweden, Kisel employs a team of 32 experts from the cellular, wireless and semiconductor industries with broad expertise in bringing advanced RF solutions to the market.

SiRF Technology Holdings Inc.

Geo: International