Industry Leaders Join Forces to Drive 5/2.5 Gbps Connectivity Over Existing LAN Cabling
Jeon Hong-beom, Executive Vice President of the KT Convergence Technical Institute: “The joint development of this Multi-Gig Ethernet technology will allow us to quickly and cost-effectively address the needs of our customers in apartments, houses and buildings across the country. Aquantia is the key partner delivering the fundamental enabling technology to reach our customer base with 10Giga service.”
Faraj Aalaei, Chairman and CEO of Aquantia: “Aquantia is pleased to collaborate with KT to deliver a first of its kind high-speed Ethernet service to homes. Our flexible architecture and market leading solutions are once again being tapped for multiple scenarios of deployment. By enabling true Multi-Gig data transmission rates over the Cat5/5e copper cabling found in multi-unit apartment buildings we’ll enable new classes of service that rely on the delivery of rich content. User experience of on-demand entertainment and ever-expanding cloud applications will benefit greatly from this partnership between Aquantia and KT.”
About Aquantia
Aquantia is a leader in the design, development and marketing of advanced, high-speed communications ICs for Ethernet connectivity in the Data Center, Enterprise Infrastructure, Access and Automotive markets. Aquantia products are designed to cost-effectively deliver leading-edge data speeds for use in the latest generation of communications infrastructure to alleviate network bandwidth bottlenecks caused by the growth of global IP traffic and in emerging and demanding applications such as autonomous driving. Aquantia is headquartered in Silicon Valley. For more information, visit www.aquantia.com.
Forward-Looking Statements
Statements in the press release that are not historical facts, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements relating to the timing, extent of adoption and potential benefits of the Company’s products. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this release. These risks and uncertainties include, without limitation, risks and uncertainties related to the size and growth of the Company’s potential markets and the ability to compete therein, as well as market demand for and performance of the Company’s products. For a discussion of these and other related risks, please refer to the Company’s recent SEC filings which are available on the SEC’s website at www.sec.gov. These forward-looking statements are based on the Company's expectations and assumptions as of the date of this press release. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events or changes in the Company's expectations.
(AQ-INV)
1 Per the Korean Government’s Ministry of Science and ICT http://www.msip.go.kr/web/main/main.do
View source version on businesswire.com: https://www.businesswire.com/news/home/20180502005544/en/
Aquantia Corporate Communications:
Diane Vanasse, 408-242-0027
dvanasse@aquantia.com
or
Aquantia Investor Relations:
Deborah Stapleton, 650-815-1239
deb@stapleton.com
Source: Aquantia
Uniquest Corporation, established in 1993, is a fast-growing leading distributor of innovative electronic components. The head office of Uniquest is located in South Korea and the company has branch offices with warehouses in the USA (California) and Hong Kong. With over twenty years of experience as an electronic components distributor and with its excellent reputation and leading position in the South Korean and Hong Kong markets, Uniquest is in an excellent position to ensure fast and reliable delivery of Invengo’s state-of-the-art RIFD products in both South Korea and Hong Kong.
Edward Lu, Sales Director at Invengo, comments: “The RFID markets in Hong Kong and South Korea have always been key to Invengo’s international business growth. We are pleased to have Uniquest on board as our InPower distributor for Invengo’s full product portfolio. Uniquest is a seasoned expert in RFID hardware and is well-known in the market as a component distributor of leading-edge technologies bringing system design and technical expertise to the table. Uniquest creates leading edge designs and provides engineering consulting services to its clients, often creating and supplying the complete BOM in order to expedite a new project. This is exactly what we all need to grow the RFID market.”
Jason Lee, COO of UNIQUEST, comments: “We are very pleased to join Invengo’s international InPower channel program and we are very excited about Invengo’s hardware offering, in particular, its innovative handheld devices. We are looking forward to servicing Invengo’s full product portfolio together in the Hong Kong and South Korean markets as Invengo’s certified distributor and value-added business partner.”
ABOUT INVENGO TECHNOLOGY
Invengo – the global RFID technology provider – is a leading developer and manufacturer of high quality, intelligent RAIN RFID (UHF), HF and NFC inlays, tags and connectivity solutions utilized in the Internet of Things (IoT). With a focus on RFID innovation, Invengo has created a leading product line in retail, library, pharmaceutical, healthcare, (public) transportation and many other industries. With over 20 years of experience in RFID, Invengo is fully dedicated to enabling efficiency in applications such as ticketing, identity management, supply chain management, authentication, asset management and brand equity.
Invengo Technology Pte. Ltd, located in Singapore (with subsidiaries in the US and Europe), is the international headquarters of Invengo Information Technology Co. Ltd, listed on the Shenzhen Stock Exchange (SZSE: 002161.SZ). Employing over 500 people worldwide, Invengo is one of the largest publicly traded, RFID-oriented companies in the world, with design and manufacturing plants located in both the United States and China and sales offices spanning all major geographies.
ABOUT UNIQUEST
Uniquest Corporation, established in 1993, is a leading distributor of electronic components. The head office of Uniquest is located in South Korea and the company has branch offices with warehouses in the USA (California) and Hong Kong. Uniquest Corporation has been listed on the Korean Stock Exchange since 2004. The company currently employs 170 people
Media Contact
Invengo Technology
Val Peters
General Manager – Marketing
+31 88 6363 764 (CET)
www.invengo.com/press
Uniquest Corporation
Jason Lee
COO
+82 31 708 9988
www.uniquest.co.kr
-- Javelin is First Fully-Qualified CMOS PA Supplier
Shipping in 3G Smartphones --
AUSTIN, Texas - Feb. 1, 2012 - Javelin Semiconductor, Inc., innovator of the world’s first high-performance CMOS 3G power amplifier (PA), today announced that Samsung Electronics Co., Ltd., has selected Javelin’s JAV5501 Band I PA for new Galaxy smartphones. The initial Samsung phone model available with Javelin’s PA is the Galaxy Ace Plus, a mid-range Android-based 3G smartphone. Following the widely popular Galaxy Ace, the Galaxy Ace Plus features a larger 3.65 inch display, faster 1 GHz processor, 5 megapixel camera, Bluetooth and Wi-Fi.
“Shipping to Samsung, a worldwide leader in mobile phones, is a significant achievement for Javelin,” said Brad Fluke, president and chief executive officer of Javelin. “As a fully-qualified 3G PA supplier, Javelin has proven the performance, quality and reliability of our patented architecture. We look forward to continue working closely with Samsung on next-generation smartphones.”
The JAV5501 is the first CMOS 3G PA in volume production with a leading smartphone manufacturer. Javelin’s PAs utilize standard CMOS to implement an innovative mixed-signal architecture that delivers enhanced performance and advanced features. Javelin PAs achieve excellent linearity and have the best noise performance of any 3G PA on the market today, improving overall smartphone performance by minimizing interference with wireless radios such as Bluetooth, Wi-Fi and GPS. Also, with low average power consumption, Javelin PAs extend overall smartphone battery life.
With PAs in standard CMOS, Javelin can offer supply assurance from the world’s largest foundries as well as the highest levels of quality, reliability and robustness in the industry, compared to existing proprietary PA process technologies. Javelin offers a family of CMOS 3G PAs supporting multiple bands that are available in a tiny industry-standard 3x3 mm package and are software compatible with all 3G baseband platforms. For more information, please visit www.javelinsemi.com.
About Samsung Electronics Co., Ltd
Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2010 consolidated sales of US$135.8 billion. Employing approximately 190,500 people in 206 offices across 68 countries, the company consists of nine independently operated business units: Visual Display, Mobile Communications, Telecommunication Systems, Digital Appliances, IT Solutions, Digital Imaging, Memory, System LSI and LCD. Recognized as one of the fastest growing global brands, Samsung Electronics is a leading producer of digital TVs, semiconductor chips, mobile phones and TFT-LCDs. For more information, please visit www.samsung.com.
About Javelin Semiconductor
Javelin Semiconductor is an innovator of high-performance, mixed-signal ICs for wireless communications. Developed by a world-class engineering team, Javelin’s products are implemented in CMOS, the world’s most widely available semiconductor process technology. Javelin was founded in 2007 and is based in Austin, Texas.
# # #
SiTel's latest Green VoIP processor brings industry-leading power savings to the low-end enterprise VoIP market
‘s-Hertogenbosch, The Netherlands, 4 January 2011 - SiTel Semiconductor today announced that its new SC14461 Green VoIP processor is at the heart of LG-Ericsson's recently-launched IP8802 low-end enterprise VoIP desktop phone. The SC14461 is the latest member of SiTel's Green VoIP processor range, which delivers record low power consumption figures in typical applications, and the first to explicitly target the cost-sensitive, low-end VoIP market.
The SC14461 offers a limited feature set to meet the constraints of the low-end VoIP market. Yet it still handles 3-way conference calling and delivers crystal clear sound quality thanks to SiTel's Perfect Acoustic Echo Canceller (PAEC). It also supports all IP security protocols including TLS-SRTP and DTLS-SRTP.
Based on the same proven multi-core architecture as previous Green VoIP processors, the low-cost SC14461 is pin-to-pin compatible with the more advanced SC14452 Green VoIP processor which also supports DECT. This makes it easier for IP phone manufacturers to develop a complete range of products to address all price points, allowing businesses of all sizes to introduce energy- and money-saving VoIP phones throughout their organization.
"Energy-saving and excellent sound quality are no longer features that can only be offered in mid-range and high-end desktops. Powered by SiTel's SC14461, our IP8802 brings these essential qualities to the low-end enterprise VoIP market. Like all our IP phones, it is cost-effective, simple to install and easy to use, and offers a range of features tailored to its price point to ensure an excellent user experience," said ST Park, Head of Enterprise Solution R&D center division LG-Ericsson.
LG-Ericsson is using the SC14461 in its new IP8802 enterprise VoIP desktop phone. The IP8802 is a cost-effective and energy-saving entry-level phone with a feature list designed for cubicle workers, retail stores, classrooms and manufacturing floors. It includes two 10/100 Base-T Fast Ethernet ports, a half-duplex speakerphone and a graphical 128 x 32 pixel monochrome LCD.
"As a leading VoIP chipset supplier, our Green VoIP processor range is a key part of our commitment to environmentally friendly solutions. These state-of-the-art VoIP chips enable energy efficient phones that offer best-in-class features and audio quality. The SC14461 and LG-Ericsson's decision to use it in their new desktop phone are evidence of both the maturity of the Green VoIP range and its value in low-end applications," said Mark De Clercq, Product Marketing Manager at SiTel.
http://www.dialog-semiconductor.com/pr_sitel_lg-ericsson_ip8802_Green_voip.php
Unterpremstaetten, Austria (December 14, 2011) - austriamicrosystems (SIX: AMS), a leading worldwide designer and manufacturer of high performance analog ICs for consumer & communications, industry & medical and automotive applications, announced today that the company supplies high volumes of intelligent ambient light and proximity sensors into four Samsung Galaxy models.
For the successful Galaxy Ace, Galaxy Gio, Galaxy Mini and Galaxy Neo models, austriamicrosystems delivers integrated ambient light and proximity sensor as well as discrete proximity sensor devices. Ambient light and proximity sensors are essential components in smartphone display management, automatically adapting the display brightness to the current light environment and controlling the display and touchscreen on/off status when the phone is held up to the ear.
Part of austriamicrosystems’ expanded optosensor product portfolio through the strategic addition of light sensor pioneer and industry leader TAOS, these devices offer best available accuracy and reliability, ultra small form factors and reduced power consumption for mobile devices like smartphones and tablet PCs. austriamicrosystems is additionally present in Samsung’s smartphone portfolio including the Galaxy S II with its market-leading MEMS microphone interfaces for optimum quality audio.
Demonstrating austriamicrosystems’ technology leadership and strong relationship with Samsung, these sensor solutions help Samsung create some of the most successful mobile devices of today and tomorrow. Samsung became the world’s largest smartphone vendor with 24% share of a total 117 million devices in the third quarter of 2011, according to market research firm Strategy Analytics, and has shipped more than 300 million handsets this year.
“We are glad to support Samsung’s extraordinary success in the worldwide smartphone space. As Samsung continues to gain market share we are proud to be part of their exciting, feature-rich devices, delivering industry-leading analog performance. Chosen by the global market leaders, our sensors are enhancing the user experience of many of the world’s leading smartphones and tablet PCs,” commented John Heugle, CEO of austriamicrosystems.
http://www.austriamicrosystems.com/Press/Release-Archive-2011/Samsung
SMSC (NASDAQ: SMSC), a leading semiconductor company creating valued connectivity ecosystems, today introduced its LAN9730, the industry’s first fully integrated Hi-Speed Inter-Chip (HSIC) USB 2.0 to-10/100 Ethernet device. The LAN9730 device was designed to deliver power consumption and bill of material savings to OEM and ODM designers of a wide range of embedded systems and consumer electronics devices.
HSIC, which incorporates SMSC’s patented Inter-Chip Connectivity™ (ICC) technology, enables the USB 2.0 protocol, which is now standard in billions of electronic devices, to be delivered over short distances while retaining 100 percent software compatibility with an analog USB 2.0 connection. AMD and Samsung have recently joined NVIDIA, Qualcomm and others in licensing ICC from SMSC to enable HSIC communication from their portable System-on-a-Chip (SoCs) to peripheral USB 2.0 devices. HSIC has been adopted as part of the USB 2.0 standard and dramatically decreases power consumption in applications such as battery-powered portable devices requiring an Ethernet port. The LAN9730 offers an integrated 10/100 physical layer and multiple power management enhancements, including Magic Packet and Link Status Change as well as “Wake on LAN” mode, which allows systems to enter a low power state and wake on desired network traffic, thereby conserving resources during downtimes.
“Performance, flexibility in design and power savings are all critical design elements inherent in SMSC’s line of networking solutions,” said Rolf Mahler, Vice President and General Manager of SMSC’s Networking Solutions group. “For embedded and consumer applications, this device can leverage our patented ICC technology to reduce power consumption and silicon area compared to a standard analog USB 2.0 interface.”
The latest in SMSC’s growing family of USB-to-Ethernet solutions, the new LAN9730 is compliant with USB specification 1.1 and 2.0 as well as IEEE 802.3/802.3u Ethernet standards. Additionally the LAN9730 needs only a single 25MHz crystal to drive both the USB and Ethernet PHYs, thereby reducing developer BOM cost.
SMSC’s integrated USB-based networking solution provides added flexibility for the routing and placement of network connections anywhere in the developer’s system. Additionally, the LAN9730 supports a wide range of drivers for the most recent versions of Windows?, Mac? and Linux? operating systems. The LAN9730 is ideal for applications such as battery-powered portable devices that also require Ethernet connectivity.
The LAN9730 is available in a small form factor 8x8mm 56-pin QFN package, which is lead-free and RoHS compliant. It is available in both commercial (0 to 70 degree Celsius) and industrial (-40 to +85 degree Celsius) temperature ranges. Qualification samples and evaluation kits are available now with mass production slated for the end of January 2012.
SMSC is a leading developer of Smart Mixed-Signal Connectivity™ solutions. SMSC employs a unique systems level approach that incorporates a broad set of technologies and intellectual property to deliver differentiating products to its customers. The company is focused on delivering connectivity solutions that enable the proliferation of data in personal computers, automobiles, portable consumer devices and other applications. SMSC’s feature-rich products drive a number of industry standards and include USB, MOST? automotive networking, Kleer? and JukeBlox? wireless audio, embedded system control and analog solutions, including thermal management and RightTouch? capacitive sensing. SMSC is headquartered in New York and has offices and research facilities in North America, Asia, Europe and India. Additional information is available at www.smsc.com.
Except for historical information contained herein, the matters discussed in this announcement are forward-looking statements about expected future events and financial and operating results that involve risks and uncertainties. These uncertainties may cause our actual future results to be materially different from those discussed in forward-looking statements. Our risks and uncertainties include the timely development and market acceptance of new products; the impact of competitive products and pricing; our ability to procure capacity from our suppliers and the timely performance of their obligations, commodity prices, interest rates and foreign exchange, potential investment losses as a result of liquidity conditions, the effects of changing economic and political conditions in the market domestically and internationally and on our customers; our ability to realize the expected benefits of acquisitions; our relationships with and dependence on customers and growth rates in the personal computer, consumer electronics and embedded and automotive markets and within our sales channel; changes in customer order patterns, including order cancellations or reduced bookings; the effects of tariff, import and currency regulation; potential or actual litigation; and excess or obsolete inventory and variations in inventory valuation, among others. In addition, SMSC competes in the semiconductor industry, which has historically been characterized by intense competition, rapid technological change, cyclical market patterns, price erosion and periods of mismatched supply and demand.
Our forward looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations and may not reflect the potential impact of any future acquisitions, mergers or divestitures. All forward-looking statements speak only as of the date hereof and are based upon the information available to SMSC at this time. Such statements are subject to change, and the Company does not undertake to update such statements, except to the extent required under applicable law and regulation. These and other risks and uncertainties, including potential liability resulting from pending or future litigation, are detailed from time to time in the Company's reports filed with the SEC. Investors are advised to read the Company's Annual Report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission, particularly those sections entitled “Other Factors That May Affect Future Operating Results” or “Risk Factors” for a more complete discussion of these and other risks and uncertainties.
SMSC, MOST, Kleer and JukeBlox are registered trademarks and Smart Mixed-Signal Connectivity, Inter-Chip Connectivity, TrueAuto and RightTouch are trademarks of Standard Microsystems Corporation.
Debbie Lin/ 林明靜
Manager of Marketing Communications, Asia Pacific
886-925-160-819
886-2-2712-3515 x102
debbie.lin@smsc.com
SMSC, a leading semiconductor company enabling content rich connectivity systems, today announced its latest generation JukeBlox® 2.2 (JB2.2) platform with enhanced audio streaming features including up to a 4 times faster boot time, improved WiFi® performance leveraging the new WiFi Multimedia (WMM) standard, low power standby modes as well as automatic network wake-up features. JB2.2 also offers improved network setup options with JB Connect 2.0 and JB iLink as well as an exciting new use case for direct connecting and streaming in private or portable applications with the new JB Direct feature. In addition, this new design offers a bill of materials cost reduction of up to 20 percent primarily through system component integration by fully utilizing the powerful, highly efficient DM870A Network Media Processor. JB2.2 unlocks new capabilities such as JB Host and JB digital signal processor (DSP) wherein the SMSC processor performs the functionality of separate host MCUs and audio DSPs, eliminating the cost of these external components.
JB2.2’s comprehensive Software Development Kit (SDK) offers improved application programming interfaces (APIs) and tools to further simplify product development and customization efforts when enabling these new features and cost-down integrations. Many of the new JB2.2 features can be leveraged in software changes, further extending the investment in existing product platforms. The SDK offers core libraries addressing higher software layers, middleware for media streaming, content access and navigation and system control, configuration files for remote control functions and more.
“Our JukeBlox 2.2 is the most feature-rich release of the platform designed to date, delivering an unprecedented home audio connectivity platform to our customers,” said Gene Sheridan, Senior Vice President and General Manager of SMSC’s Wireless Products Group. “The trend in streaming audio continues to pick up the pace as more people want the freedom to access their content and distribute it with ease. Many consumer brands have heard the call and are delivering on this new market requirement, powered by the JukeBlox platform. This market is on an aggressive growth path and we are excited to be the wireless audio solution of choice for these consumer technology leaders.”
The JukeBlox platform continues to offer a complete range of audio codecs, internet radio protocols, popular music apps, a variety of connectivity options and all of the industry interoperability standards. JukeBlox also features fail-safe firmware updates that allow for new features to be updated to the consumer over time without hardware changes. The new JB2.2 software and SDK will be available in November 2011.
For more information on SMSC’s JukeBlox technology, visit: http://www.smsc.com/jukeblox.
About SMSC
SMSC is a leading developer of Smart Mixed-Signal Connectivity™ solutions. SMSC employs a unique systems level approach that incorporates a broad set of technologies and intellectual property to deliver differentiating products to its customers. The company is focused on delivering connectivity solutions that enable the proliferation of data in personal computers, automobiles, portable consumer devices and other applications. SMSC’s feature-rich products drive a number of industry standards and include USB, MOST® automotive networking, Kleer® and JukeBlox® wireless audio, embedded system control and analog solutions, including thermal management and RightTouch® capacitive sensing. SMSC is headquartered in New York and has offices and research facilities in North America, Asia, Europe and India. Additional information is available at www.smsc.com.
Forward Looking Statements
Except for historical information contained herein, the matters discussed in this announcement are forward-looking statements about expected future events and financial and operating results that involve risks and uncertainties. These uncertainties may cause our actual future results to be materially different from those discussed in forward-looking statements. Our risks and uncertainties include the timely development and market acceptance of new products; the impact of competitive products and pricing; our ability to procure capacity from our suppliers and the timely performance of their obligations, commodity prices, interest rates and foreign exchange, potential investment losses as a result of liquidity conditions, the effects of changing economic and political conditions in the market domestically and internationally and on our customers; our ability to realize the expected benefits of acquisitions; our relationships with and dependence on customers and growth rates in the personal computer, consumer electronics and embedded and automotive markets and within our sales channel; changes in customer order patterns, including order cancellations or reduced bookings; the effects of tariff, import and currency regulation; potential or actual litigation; and excess or obsolete inventory and variations in inventory valuation, among others. In addition, SMSC competes in the semiconductor industry, which has historically been characterized by intense competition, rapid technological change, cyclical market patterns, price erosion and periods of mismatched supply and demand.
Our forward looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations and may not reflect the potential impact of any future acquisitions, mergers or divestitures. All forward-looking statements speak only as of the date hereof and are based upon the information available to SMSC at this time. Such statements are subject to change, and the Company does not undertake to update such statements, except to the extent required under applicable law and regulation. These and other risks and uncertainties, including potential liability resulting from pending or future litigation, are detailed from time to time in the Company's reports filed with the SEC. Investors are advised to read the Company's Annual Report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission, particularly those sections entitled “Other Factors That May Affect Future Operating Results” or “Risk Factors” for a more complete discussion of these and other risks and uncertainties.
SMSC, MOST, Kleer and JukeBlox are registered trademarks and Smart Mixed-Signal Connectivity, TrueAuto and RightTouch are trademarks of Standard Microsystems Corporation.
Contact at SMSC:
Debbie Lin/ 林明靜
Manager of Marketing Communications, Asia Pacific
886-925-160-819
886-2-2712-3515 x102
debbie.lin@smsc.com
LensVector?, Inc., the leader in solid-state optical components for camera phones, laptops and other consumer electronics, has chosen Uniquest Corporation as its Korean distribution partner. Uniquest will distribute LensVector components and provide local supply logistics, sales and technical support services. LensVector has developed breakthrough optical technology that can shape, steer and focus light without mechanical movement. Shipping today to key customers worldwide, LensVector technology replaces the complex, bulky and often fragile mechanical autofocus mechanisms currently found in camera phones with a simple and easy-to-integrate solid-state component. "Working with Uniquest will help LensVector better serve our customers in the strategic Korean marketplace as we ramp our industry-leading optical technology," said LensVector CEO Derek Proudian. "LensVector's autofocus technology has an opportunity to strongly impact mobile platforms worldwide, and we look forward to supporting the company's growth in the Korean market," said John Kim, President / General Executive, Uniquest.
LensVector is leading a revolution in solid-state optics with solutions that replace moving parts of tiny cameras found in mobile phones, laptops and other consumer electronics with solid-state optical components. LensVector delivers the smallest autofocus products in the industry, making high-quality photography, m-commerce and video practical for everyone. LensVector solutions integrate easily with any camera module and are manufactured using proven, scalable processes from the LCD and semiconductor packaging industries.
For more information, visit www.lensvector.com.
Established in 1993, Uniquest is a recognized and respected leader and innovator in the distribution of electronic components in Korea. Uniquest provides an exemplary standard of products, services, and solutions to best suit the concerns of customers. The current product line supported includes Altera, Atheros, Numonyx, IDT, Sigma Design and many other product lines.
For more information on Uniquest, visit www.uniquest.co.kr.
LensVector: Dan Francisco, Francisco Group for LensVector, T: +1-916-812-8814, dan@franciscogrp.com Uniquest Corporation: T: +82-31-708-9988, lensvector@uniquest.co.kr
Hauppauge, New York and Newport Beach, California - January 10, 2011 - SMSC (NASDAQ: SMSC), a leading semiconductor company providing Smart Mixed-Signal Connectivity™ solutions, and Conexant Systems, Inc. (NASDAQ: CNXT), a leading supplier of innovative semiconductor solutions for imaging, audio, embedded modem, and video surveillance applications, today announced the signing of a definitive agreement under which SMSC will purchase all of the outstanding shares of Conexant in a stock and cash transaction valued at approximately $284 million including the assumption of Conexant's net debt. The transaction has been approved by the boards of directors of both companies.
The combination of Conexant's imaging, audio, embedded modem and video products with SMSC's broad connectivity solutions targeting the computing, consumer, industrial and automotive markets provides for a highly complementary merger of talent and technology. Headquartered in Newport Beach, California, Conexant has approximately 600 employees worldwide, including over 230 in Asia. "We believe that combining the growth potential of Conexant and SMSC will allow us to leverage complementary technology and engineering resources to provide our customers with expanded solutions in connectivity and content," said Christine King, President & Chief Executive Officer of SMSC. "We plan to focus our resources on the areas of highest return and believe that our respective sales and supply chain relationships will help create a platform to grow our businesses. We expect the acquisition will be accretive to non-GAAP EPS immediately upon close. In addition, we expect to capture significant operating efficiencies that will position us to increase earnings growth. SMSC's larger scale should position us to increase our R&D productivity and drive profitability and shareholder value." "In our industry, size and scope provide a significant advantage with customers and suppliers," said Scott Mercer, Conexant's Chairman and Chief Executive Officer. "SMSC and Conexant share similar core competencies in analog and mixed-signal design, possess complementary product portfolios, and count many customers in common. By joining forces, we get the opportunity to take advantage of economies of scale and drive profitable growth. I am convinced that combining our companies will best serve the interests of Conexant stockholders, customers, and employees moving forward." Sailesh Chittipeddi, currently President & Chief Operating Officer at Conexant, will join SMSC upon close of the acquisition as Executive Vice President, reporting to Christine King. Mr. Chittipeddi's responsibilities will include all product lines and global marketing and engineering functions for SMSC. Mr. Chittipeddi joined Conexant in 2006. In his role as President & Chief Operating Officer, he had worldwide responsibility for engineering, operations, quality and marketing. Under the terms of the agreement, for each share of Conexant that they own, Conexant stockholders will receive approximately $2.25 consisting of $1.125 in cash and a fraction of a share of SMSC common stock equal to $1.125 divided by the volume weighted average price of SMSC common stock for the 20 trading days ending on the second trading day prior to closing, but in no event more than 0.04264 nor less than 0.03489 shares of SMSC common stock. The total cash consideration to be paid in the transaction is approximately $98 million and the total number of shares of SMSC common stock to be issued (including the assumption of outstanding Conexant restricted stock units) is approximately 2.9 to 3.6 million. The transaction is expected to close in the first half of calendar 2011 subject to the satisfaction of regulatory requirements, approval by Conexant shareholders and other customary closing conditions. SMSC expects to realize approximately $8 to $10 million in annualized pre-tax cost synergies by the end of SMSC's fourth quarter of fiscal 2012 as a result of the consolidation of support functions and optimization of the supply chain across a larger base.
SMSC will discuss the agreement to acquire Conexant on its third quarter of fiscal 2011 earnings conference call, taking place today, January 10, 2011 at 8:00 AM ET. The teleconference may be accessed by dialing 888-601-3884 in the U.S. or 913-312-1477 from outside of the U.S. The teleconference confirmation code is 7244148. A replay of the call will also be available from January 10 through January 17, 2011. The replay dial-in number is 888-203-1112 in the U.S. or 719-457-0820 for international callers. The replay passcode is 7244148. A webcast of the call, along with presentation materials, will be accessible via the investor relations section of SMSC's website at www.smsc.com.
SMSC is a leading developer of Smart Mixed-Signal Connectivity™ solutions. SMSC employs a unique systems level approach that incorporates a broad set of technologies and intellectual property to deliver differentiating products to its customers. The company is focused on delivering connectivity solutions that enable the proliferation of data in personal computers, automobiles, portable consumer devices and other applications. SMSC's feature-rich products drive a number of industry standards and include USB, MOST? automotive networking, embedded system control and analog solutions, including thermal management and RightTouch™ capacitive sensing. SMSC is headquartered in New York and has offices and research facilities in North America, Asia, Europe and India. Additional information is available at www.smsc.com.
Conexant's portfolio of innovative semiconductor solutions includes products for imaging, audio, embedded modem, and video surveillance applications. Conexant is a fabless semiconductor company headquartered in Newport Beach, Calif. To learn more, please visit www.conexant.com.
In connection with the proposed transaction, SMSC will file with the Securities and Exchange Commission (the "SEC") a Registration Statement on Form S-4 that will include a proxy statement of Conexant and a prospectus of SMSC. The definitive proxy statement/prospectus will be mailed to stockholders of Conexant. Conexant and SMSC urge investors and security holders to read the proxy statement/prospectus regarding the proposed transaction when it becomes available because it will contain important information about the proposed transaction. You may obtain a free copy of the proxy statement/prospectus (when available) and other related documents filed by SMSC and Conexant with the SEC at the SEC's website at www.sec.gov. The proxy statement/prospectus (when it is available) and other documents filed by SMSC or Conexant with the SEC relating to the proposed transaction may also be obtained for free by accessing SMSC's website at www.smsc.com by clicking on the link for "Investor Relations", then clicking on the link for "SEC Filings" or by accessing Conexant's website at www.conexant.com and clicking on the "Investors" link and then clicking on the link for "Financial Information" and then clicking on the link for "SEC Filings".
SMSC, Conexant and their respective directors, executive officers and certain other members of management and employees may be deemed to be participants in the solicitation of proxies from Conexant stockholders in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of Conexant stockholders in connection with the proposed transaction, including the interests of such participants in the proposed transaction, will be set forth in the proxy statement/prospectus when it is filed with the SEC. You can find information about SMSC's executive officers and directors in SMSC's definitive proxy statement filed with the SEC on June 14, 2010. You can find information about Conexant's executive officers and directors in Conexant's definitive proxy statement filed with the SEC on December 10, 2010. You can obtain free copies of these documents from SMSC or Conexant, respectively, using the contact information above.
Except for historical information contained herein, the matters set forth in this document are forward-looking statements about expected future events and financial and operating results that involve risks and uncertainties. These uncertainties may cause SMSC's or Conexant's actual future results to be materially different from those discussed in the forward-looking statements. These risks and uncertainties include risks relating to the ability to obtain regulatory approvals of the transaction on the proposed terms and schedule; the failure of Conexant stockholders to approve the transaction; a failure to consummate or delay in consummating the Merger for other reasons; the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other synergies from the transaction may not be fully realized or may take longer to realize than expected; disruption from the transaction making it more difficult to maintain relationships with customers, employees or suppliers; competition and its effect on pricing, spending, third-party relationships and revenues; and other risks relating to the companies' businesses set forth in their filings with the SEC. Our forward looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations and may not reflect the potential impact of any future acquisitions, mergers or divestitures. All forward-looking statements speak only as of the date hereof and are based upon the information available to SMSC and Conexant at this time. Such statements are subject to change, and SMSC and Conexant do not undertake to update such statements, except to the extent required under applicable law and regulation. These and other risks and uncertainties, including potential liability resulting from pending or future litigation, are detailed from time to time in SMSC's and Conexant's reports filed with the SEC. Investors are advised to read each company's Annual Report on Form 10-K and quarterly reports on Form 10-Q filed with the SEC, particularly those sections entitled "Other Factors That May Affect Future Operating Results" or "Risk Factors" for a more complete discussion of these and other risks and uncertainties.
SMSC and MOST are registered trademarks and Smart Mixed-Signal Connectivity, TrueAuto and RightTouch are trademarks of Standard Microsystems Corporation.
SMSC Debbie Lin / 林明靜 Manager of Marketing Communications, Asia Pacific 886-925-160-819 886-2-2712-3515 x102 debbie.lin@smsc.com
UNIQUEST BUILDING, 314, HWANGSAEUL-RO, BUNDANG-GU, SEONGNAM-SI, GYEONGGI-DO, 13591, KOREA