Designer Kits

Summit Partners, a leading private equity investor, announced that it has invested $15 million in Hittite Microwave Corporation. Based in Chelmsford, MA, Hittite is a leading designer, developer and manufacturer of high performance integrated circuits for wireless and wireline communications systems. This funding will enable Hittite to continue to execute its rapid growth strategy, including the expansion of its design and manufacturing capabilities.

Dr. Yalcin Ayasli, Founder and CEO of Hittite, Commented on the financing: "We have known Summit Partners for several years and are pleased to have them as an investor. Summit's proven experience in assisting market leading communications technology companies will help Hittite meet its long-term goals and better serve our customers."

"We are very excited to be partnering with the strong management team at Hittite Microwave," stated Scott C. Collins, General Partner at Summit. "Already a leading supplier of sophisticated RF components, Hittite is well positioned for continued strong growth and product expansion."

Founded in 1984, Summit Partners is one of the most successful venture capital and private equity partnerships in the United States, with over $4.0 billion under management. Summit invests primarily in rapidly growing, privately held, well-managed companies with a particular focus on investments in communications, software, internet and other technology-related businesses. Notable companies financed by Summit include CMGI, Ditech Communications, DSET Corporation, E-Tek Dynamics, Finisar Corporation, Hyperion Solutions, McAfee associates/Network Associates, MCK Communications, Mind CTI, OPNET Technologies, Somera Communications, Stanford Microdevices, tecobuy.com, WebEx and Xylan. For additional information, visit the company's website at www.summitpartners.com.