The features of InGaAs/InAlAs HEMT (high-electron-mobility transistor) technology are discussed in view of its potential for MMIC applications. Small- and large-signal characteristics benefit from the introduction of a strained layer in the channel. InGaAs HEMTs have a third-order intermodulation distortion point 4-dB higher than GaAs/AlGaAs, and are therefore very suitable for full multistage amplifier integration. A first demonstration of integration capability is shown with monolithic InGaAs attenuators which show 1.5-dB insertion loss and 18-dB dynamic range from 545 MHz to 25 GHz.