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Micrel Inc. (NasdaqGS:MCRL) signed a definitive agreement to acquire Discera, Inc. from Ardesta, LLC, Horizon Ventures, Lurie Investment Fund, LLC and Scale Venture Partners II, L.P., a fund of Scale Venture Partners for $8.2 million on August 30, 2013. The total consideration was approximately $7.1 million, plus $1.1 million assumed liabilities. Of the $7.1 million, $6.1 million was paid upon closing, and approximately $1 million was withheld to secure the indemnification obligations from the closing date through September 9, 2014.

Chandler, Arizona and San Jose, California – May 7, 2015 – Microchip Technology Incorporated (NASDAQ: MCHP), a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, and Micrel, Incorporated (NASDAQ: MCRL) today announced that Microchip has signed a definitive agreement to acquire Micrel for $14.00 per share. Micrel shareholders may elect to receive the purchase price in either cash or shares of Microchip common stock. The acquisition price represents a total equity value of about $839 million, and a total enterprise value of about $744 million, after excluding Micrel’s
cash and investments on its balance sheet of approximately $95 million. This represents a premium to Micrel’s closing stock price as of May 6, 2015 of 3% and a 30% premium to Micrel’s closing stock price on August 7, 2014, the day Starboard Value LP disclosed a 12.0% interest in Micrel in a Schedule 13D filing with the SEC.

“We are pleased to have Micrel become part of the Microchip team. Micrel’s portfolio of Linear and
Power Management products, LAN solutions and Timing and Communications products, as well as their
strong position in the Industrial, Automotive and Communications markets, complement many of
Microchip’s initiatives in these areas. We believe that combining Micrel’s business with Microchip’s
business will enable significant synergies and cross selling opportunities,” said Steve Sanghi, President
and CEO of Microchip Technology. “Ray Zinn founded Micrel and has led the company for the last 37
years. I want to thank Ray for his vision in guiding Micrel from a start-up to almost a quarter billion
dollars in annual sales,” added Mr. Sanghi.

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