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Panasonic Acquires Assets of Tropian, Inc.
SECAUCUS, NJ (April 4, 2006) - Panasonic Corporation of North America, the principal North American subsidiary of Matsushita Electric Industrial Co., Ltd. (NYSE: MC), today announced that Matsushita Electric has signed an agreement with Tropian, Inc. to acquire the assets of Tropian's business.
Tropian, a Cupertino, Calif.-based venture-backed company, has pioneered the development of polar modulation techniques for use in wireless transmitter applications. It has developed key technologies that, when applied to the transmitter function of wireless communication systems, will enable significant reductions in power consumption and size of equipment. The agreement will allow Matsushita Electric to acquire Tropian's intellectual property and technologies, and Panasonic Corporation of North America to acquire its core team and integrate this team into Panasonic Emerging Advanced RF Laboratory (PEARL), a new unit of Panasonic R&D Company of America, which is a division of Panasonic Corporation of North America. The new unit will be established this month with approximately 40 employees.
Through the agreement, Matsushita Electric aims to combine Tropian's unique Direct Polar Modulation technologies with its own system semiconductor, radio and amplifier capabilities, and its considerable experience in wireless communication systems. The aim is to significantly accelerate both R&D and commercialization efforts for wireless communication equipment and related key components.
"Tropian's unique polar modulation technologies will be an important driver in the digitization of the conventional analog radio-frequency elements within wireless communications systems. I believe this technology is critical for the reduction in power consumption and miniaturization of equipment, and will speed the early realization of the ubiquitous network society," said Dr. Susumu Koike, Executive Vice President of Matsushita Electric Industrial Co., Ltd.
"Everyone at Tropian is very excited by the opportunity to be a part of the Panasonic organization" said Dr. Earl McCune, Tropian founder and the new Director of PEARL. "The Tropian management team of Tim Unger, CEO, Adrian Woolley, VP Marketing and Sales, and I have been looking to become part of an organization with the skills and resources to make a huge impact with our technology. With Panasonic we have found and joined such an organization, and we look forward to contributing to the acceleration of Dr. Koike's vision."
Best known by its Panasonic brand name, Matsushita Electric Industrial Co., Ltd. is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated net sales of US$81.44 billion for the year ended March 31, 2005. The company's shares are listed on the Tokyo, Osaka, Nagoya, New York (NYSE:MC), Euronext Amsterdam and Frankfurt stock exchanges. Panasonic Corporation of North America is Matsushita Electric's principal North American subsidiary. For more information on Matsushita Electric and Panasonic, visit the company's website at www.panasonic.com.