YOKNEAM, Israel, January 19, 2016 /PRNewswire/ --
EZchip Semiconductor Ltd. ("EZchip" or the "Company") (NASDAQ:
EZCH), a leader in high-performance processing solutions for
carrier and data center networks, today announced that, at the
Company's 2016 Extraordinary General Meeting held today, EZchip
shareholders overwhelmingly approved the Merger Proposal with
Mellanox Technologies, Ltd. ("Mellanox") (NASDAQ: MLNX), with
approximately 84 percent of votes cast in
favor of the merger. The final results will be reported by EZchip
in filings with the Securities and Exchange Commission and the Tel
Aviv Stock Exchange.
In response to the approval of the merger with Mellanox,
Eli Fruchter, CEO of EZchip, stated
"We are pleased by the support this transaction has received from
our shareholders. We look forward to working with Mellanox to close
the transaction for the benefit of all our stakeholders, including
our dedicated employees, customers and partners."
EZchip and Mellanox entered into an agreement on September 30, 2015, providing for Mellanox to
acquire EZchip. In accordance with Israeli law, the transaction is
expected to close in the second half of February 2016.
About EZchip
EZchip is a fabless semiconductor company that provides
high-performance processing solutions for a wide range of
applications for the carrier, cloud and data center networks.
EZchip's broad portfolio of solutions scales from a few to hundreds
of Gigabits-per-second, and includes network processors, multi-core
processors, intelligent network adapters, high-performance
appliances and a comprehensive software ecosystem. EZchip's
processing solutions excel at providing great flexibility and high
performance coupled with superior integration and power
efficiency.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements are statements that are not
historical facts and may include financial projections and
estimates and their underlying assumptions, statements regarding
plans, objectives and expectations with respect to future
operations, products and services, and statements regarding future
performance and the consummation of the merger with Mellanox
Technologies, Ltd. These statements are only predictions based on
EZchip's current expectations and projections about future events
based on its current knowledge. There are important factors that
could cause EZchip's actual results, level of activity, performance
or achievements to differ materially from the results, level of
activity, performance or achievements expressed or implied by the
forward-looking statements. Those factors include, but are not
limited to, the impact of general economic conditions, competitive
products (including in-house customer developed products), product
demand and market acceptance risks, customer order cancellations,
reliance on key strategic alliances, fluctuations in operating
results, delays in development of highly-complex products and other
factors indicated in EZchip's filings with the Securities and
Exchange Commission (SEC). For more details, refer to EZchip's SEC
filings and the amendments thereto, including its Annual Report on
Form 20-F filed on March 31, 2015 and
its Current Reports on Form 6-K (including EZchip's Proxy
Statement, dated December 21, 2015,
for the Extraordinary General Meeting). EZchip undertakes no
obligation to update forward-looking statements to reflect
subsequent occurring events or circumstances, or to changes in our
expectations, except as may be required by law.
Important Additional Information
This communication is neither an offer to purchase nor a
solicitation of an offer to sell securities. The Proxy Statement
for the Extraordinary General Meeting (including the Merger
Agreement with Mellanox Technologies, Ltd. (as amended by Amendment
No. 1 dated November 17, 2015) and
the fairness opinion received by the EZchip Board), has been filed
by EZchip with the SEC on December 21
, 2015 and mailed to shareholders. Shareholders are urged to read
the Proxy Statement for the Extraordinary General Meeting, together
with the exhibits thereto, in their entirety because they contain
important information. Shareholders may also obtain a free copy of
these statements and other documents filed by EZchip with the SEC
at the website maintained by the SEC at http://www.sec.gov by
directing such requests to:
MacKenzie Partners, Inc.
Toll-free: (800)322-2885
Collect: +1-(212)929-5500
Contacts
EZchip Investor Contact
Jeffrey A Schreiner
EZchip
+1-408-520-3676
jschreiner@ezchip.com
EZchip PR Contact
Daureen Green
EZchip
+972-4-959-6677
dgreen@ezchip.com
Additional Contacts
Joele Frank, Wilkinson Brimmer
Katcher
Eric Brielmann / Kate Beers
+1-415-869-3950
Sharon Stern / Adam Pollack
+1-212-355-4449
MacKenzie Partners, Inc.
Bob Marese
+1-212-929-5405
SOURCE EZchip Semiconductor Ltd