the development of a PCI to 68K bridge product family. This was to be the beginning of a long partnership between Newbridge Microsystems (Tundra) and Motorola which continues today with Tundra's PowerPC system products. Acquisitions In February 1988 the company acquired the integrated circuit division of Siltronics for $500,000. The purchase brought with it revenue of $2 to $3 million and all of the inventory, machinery, customer lists and unfilled orders for Siltronics's bipolar integrated circuit product line. Calmos also hired 24 of the existing Siltonics staff including founder and vice-president Gyles Panther, doubling the size of Calmos's workforce. Later that year Federal Industry Minister Michel Côté announced that Calmos had won a $3.07 million Canadian Federal grant to work with European Silicon Structures of Bracknell, England for joint development of Applications Specific Integrated Circuits (ASIC.) At about this time the company grew to include an assembly plant located in Nepean, on Stafford Road. In March 1989 Calmos acquired UltraMac Conversions which designed and manufactured peripherals for Apple's Macintosh computers, which subsequently operated under the name Calmos Data, the group was headed by the former president Lincoln Henthorn. By May Calmos Microsystems had grown to 55 employees, was profitable and had sales of over $4.5 million. Newbridge Networks, a Calmos customer and founded by Welsh entrepreneur Terry Matthews, who had also attended university with founder John Roberts, acquired the company. Newbridge was private at the time and subsequently went public that June, financial terms were not disclosed at the time. However, in a 1997 Ottawa Citizen interview John Roberts stated that Calmos was purchased for $5 million in Newbridge Pre-IPO shares that subsequently became worth "about $100 Million." Tundra acquired a South Portland, Maine-based chip developer for $45 million (U.S.) 90 per cent in stock and the balance in cash. Quadic Systems Inc had a relationship with Tundra, from providing expertise in the design of Tundra's recently released PowerPro and upcoming Tsi920 semiconductors. Former Quadic president David Ferris became vice president of the South Portland operation which had at the time of acquisition 37 employees. In September 2003 Tundra bought the MPC1xx family northbridge controllers for the PowerPC 7xx and 7xxx microprocessors from Motorola, which it now produces under the brand name Tsi1xx. IPO & public company The company held its first AGM on October 20, 1997 where Adam Chowaniac stated the company's intention to go public in 12–18 months.