At a special meeting of shareholders held today, the MMC Networks shareholders approved the merger. As previously announced, each outstanding share of MMC Networks common stock has been converted into 0.619 shares of AMCC common stock (1.238 shares of AMCC common stock as adjusted for AMCC’s 100% stock dividend payable on Oct. 30, 2000). At the close of trading on October 25, 2000, MMC Networks common stock ceased to be traded on the Nasdaq National Market and shareholders of MMC Networks have become shareholders of AMCC.
MMC is the market leader in providing total network processing platforms and services, enabling network and communications equipment vendors to rapidly develop scalable, feature-rich, cost-effective products. MMC’s platforms include fully programmable, policy-enabled network processors, an open, extensive software architecture, high-capacity switching fabrics, and integrated traffic management capabilities, complemented by system design and consulting services. MMC platforms form the silicon heart of many Layer 2-Layer 7 WAN and LAN switches and routers, broadband, optical, Web switching, subscriber management, and other communications platforms.
