Microchip Technology and SMSC Announce the Completion of the Acquisition of SMSC by Microchip Technology
02 8월 2012 - 9:25PM
Business Wire
Microchip Technology Incorporated (NASDAQ: MCHP), a
leading provider of microcontroller, analog and Flash-IP solutions,
and Standard Microsystems Corporation (NASDAQ: SMSC) today
announced that Microchip has completed its previously announced
acquisition of SMSC.
“We are very pleased to have completed our acquisition of SMSC,”
said Steve Sanghi, President and CEO. "I welcome the SMSC employees
into the Microchip family and look forward to building a combined
organization that will bring the capabilities of both organizations
to bear in the marketplace.”
As a result of the completion of the transaction, trading in
SMSC common stock on the NASDAQ Stock Market will cease.
Forward-Looking Statements
The statement in this release relating to building a combined
organization that will bring the capabilities of both organizations
to bear in the marketplace is a forward-looking statement made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. This forward-looking statement is
subject to a number of business, economic, legal and other risks
that are inherently uncertain and difficult to predict, including,
but not limited to: changes in demand or market acceptance of the
products of Microchip and SMSC and the products of their customers;
competitive developments; the costs and outcome of any current or
future litigation involving Microchip, SMSC or the acquisition
transaction; the effect of the acquisition on Microchip’s and
SMSC’s existing relationships with customers and vendors and their
operating results and businesses; the progress and costs of
development of Microchip and SMSC products and the timing and
market acceptance of those new products; Microchip’s ability to
successfully integrate SMSC’s operations and employees and retain
key employees; and general economic, industry or political
conditions in the United States or internationally. For a detailed
discussion of these and other risk factors, please refer to the SEC
filings of Microchip and SMSC including those on Forms 10-K and
10-Q. You can obtain copies of Forms 10-K and 10-Q and other
relevant documents for free at Microchip’s website
(www.microchip.com), at SMSC’s website (www.smsc.com)
(as applicable) or the SEC's website (www.sec.gov) or from
commercial document retrieval services.
Stockholders of Microchip and SMSC are cautioned not to place
undue reliance on the forward-looking statements in this press
release, which speak only as of the date such statements are made.
Neither Microchip nor SMSC undertakes any obligation to publicly
update any forward-looking statements to reflect events,
circumstances or new information after this August 2, 2012 press
release, or to reflect the occurrence of unanticipated events.
About SMSC
SMSC (NASDAQ: 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 automobiles,
consumer devices, PCs 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.
About Microchip Technology
Microchip Technology Inc. (NASDAQ: MCHP) is a leading provider
of microcontroller, analog and Flash-IP solutions, providing
low-risk product development, lower total system cost and faster
time to market for thousands of diverse customer applications
worldwide. Headquartered in Chandler, Arizona, Microchip offers
outstanding technical support along with dependable delivery and
quality. For more information, visit the Microchip website at
http://www.microchip.com.
Note: The Microchip name and logo, and PIC are
registered trademarks of Microchip Technology Inc. in the USA and
other countries. SMSC, MOST, Kleer, RightTouch and JukeBlox are
registered trademarks and Smart Mixed-Signal Connectivity is a
trademark of Standard Microsystems Corporation. All other
trademarks mentioned herein are the property of their respective
companies.
Standard Microsystems Corp. (MM) (NASDAQ:SMSC)
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Standard Microsystems Corp. (MM) (NASDAQ:SMSC)
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