November 5, 2009 -- Maxim Integrated Products today announces that it has reached a definitive agreement with Intelleflex, a vendor in extended capability RFID, that has resulted in the transfer of a Maxim engineering team, a body of design works, and related IP to Intelleflex. In return Maxim will receive an equity position in Intelleflex. In addition, Maxim and Intelleflex will partner on certain go-to-market activities in the future.

Intelleflex President and CEO Peter Mehring commented, "This transaction combines the leaders in Class 3 RFID. The added development capacity and complementary design ideas will allow us to accelerate the product road map, and build a leading position in the applications and markets for Class 3 RFID technology."

Maxim Division Vice President Chris Neil commented, "The combination of these complementary teams creates a clear leader in this emerging Class 3 RFID technology. The Maxim team is leading the Class 3 world-wide standards definition and development, and the Intelleflex team is the leader in extended capability RFID product development."

"We saw this spin-out combination as a natural fit that further strengthens Intelleflex's position," added Ketan Patel of New Venture Partners, who recently led an $8M investment round in Intelleflex. "The Maxim team was doing great work on a parallel path with Intelleflex. By joining forces, they'll be able to move further, faster toward an impressive set of new extended capability RFID products for major market impact in 2010 and beyond."

New Venture Partners LLC is a global venture capital firm dedicated to corporate technology spinouts, with over $700 million under management. In total, seven engineers from Maxim will be joining the team at Intelleflex, and will be based in Dallas, TX and at Intelleflex's headquarters in Santa Clara, CA.

Go to the Maxim Integrated Products, Inc. website for product details.