Hillsboro, OR — (press release excerpt) — RadiSys Corporation and Microware Systems Corporation today announced that they have entered into a definitive agreement under which RadiSys, through a wholly owned subsidiary, will acquire Microware for $0.68 per share in an all-cash tender offer valued at approximately $13.1 million.

Microware, based in Des Moines, Iowa, has been reshaping itself into a communications middleware company from an earlier stage of being a general embedded software and real-time operating system company. Microware is a leader in providing communications software, microcode, and professional consulting services for Intel's highly successful IXP1200 network processor family. Microware's products also include the OS-9 real-time operating system; connectivity and networking software including the SoftStax integrated networking interface, SoftATM, Bluetooth, and router and managed switch protocols; Personal JAVA for embedded devices; and digital video software packages for applications such as extraction and decoding of video packets from an IP network.

RadiSys, Microware, and Intel recently showcased the companies' network-processor capabilities at the SUPERCOMM 2001 show in Atlanta. Working demos included a
booth-to-booth Voice over IP link using IXP1200s between the Intel and RadiSys exhibits, and a WAN/LAN access switch using the IXP1200 powered by Microware's Microcode Solutions Library. Microware's software is also shipped with the new IXDP1200 Advanced Development Platform available from Intel.

Historically, Microware's leading product has been OS-9, a real-time operating system used in a wide variety of applications, such as cellular phones, pagers, set-top boxes, and vehicle navigation systems. OS-9 has been optimized for the IXP1200's StrongARM core and is in use by a significant number of current IXP1200 designs. Microware also provides its IXP1200 middleware and microcode on Linux and VxWorks operating systems. Microware's revenues for its most recent fiscal year ending March 31, 2001 were $14 million. The company has been particularly successful in Japan, where it has 22 employees and about a third of its revenues.

 
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