On November 12, 2004, AMIS Holdings, Inc. completed the acquisition of substantially all of the assets and certain liabilities of Dspfactory Ltd. including the shares of its Swiss subsidiary, dspfactory SA. AMIS Holdings is a NASDAQ-listed designer and manufacturer of state-of-the-art integrated mixed-signal and structured digital products, headquartered in Pocatello, Idaho with sales and design centres located in the US, Europe and the Asia-Pacific region. Dspfactory, a Waterloo-based company, is a provider of ultra-low power digital signal processing systems for portable and wearable devices such as digital hearing aids and wireless headsets. The transaction was effected through a plan of arrangement and, on closing, Dspfactory received cash and stock having a value of approximately C$61 million and the right to receive an additional US$8,500,000 in stock upon achievement of certain milestones before the end of 2006.

AMI Semiconductor was represented by vice-president & general counsel, Darlene Gerry, and assisted in Canada by Davies Ward Phillips & Vineberg LLP, with a team that included Patricia Olasker, Sarbjit Basra and Daniela Liscio.