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8-K - FORM 8-K - SKYWORKS SOLUTIONS, INC. | a59739e8vk.htm |
Exhibit 99.1
Skyworks Media Relations:
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Skyworks Investor Relations: | |
Pilar Barrigas
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Stephen Ferranti | |
949-231-3061
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781-376-3056 |
Skyworks Closes Acquisition of Mobile Data
Connectivity Innovator SiGe Semiconductor
Connectivity Innovator SiGe Semiconductor
WOBURN, Mass. June 10, 2011 Skyworks Solutions, Inc. (NASDAQ: SWKS), an innovator
of high reliability analog and mixed signal semiconductors enabling a broad range of end markets,
today closed its acquisition of SiGe Semiconductor, Inc., a leading global supplier of radio
frequency (RF) front-end solutions that are facilitating wireless multimedia across a wide range of
applications. The companies entered into a definitive agreement on May 17, 2011.
Per the terms of the agreement, Skyworks paid cash for the acquisition, which was approved by
Skyworks board and SiGes board of directors and stockholders. Excluding any non-recurring
acquisition related charges and amortization of acquired intangibles, the acquisition is expected
to be immediately accretive to non-GAAP earnings. More financial and accounting information will be
provided during Skyworks third fiscal quarter 2011 earnings conference call.
About Skyworks
Skyworks Solutions, Inc. is an innovator of high reliability analog and mixed signal
semiconductors. Leveraging core technologies, Skyworks offers diverse standard and custom linear
products supporting automotive, broadband, cellular infrastructure, energy management, industrial,
medical, military and mobile handset applications. The Companys portfolio includes amplifiers,
attenuators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure RF
subsystems, mixers/demodulators, phase shifters, PLLs/synthesizers/VCOs, power dividers/combiners,
receivers, switches and technical ceramics.
Headquartered in Woburn, Mass., Skyworks is worldwide with engineering, manufacturing, sales
and service facilities throughout Asia, Europe and North America. For more information, please
visit Skyworks Web site at: www.skyworksinc.com.
Safe Harbor Statement
This news release includes forward-looking statements intended to qualify for the safe
harbor from liability established by the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include without limitation information relating to future results and
expectations of Skyworks (including without limitation certain projections and business trends).
Forward-looking statements can often be identified by words such as anticipates, expects,
forecasts, intends, believes, plans, may, will, or continue, and similar expressions
and variations or negatives of these words. All such statements are subject to certain risks,
uncertainties and other important factors that could cause actual
-more-
results to differ materially and
adversely from those projected, and may affect our future operating results, financial position and cash flows.
These risks, uncertainties and other important factors include, but are not limited to:
whether we are able to satisfy the closing conditions and close our acquisition of Advanced
Analogic Technologies; whether we are able to successfully integrate SiGe Semiconductors and/or
Advanced Analogic Technologies operations; uncertainty regarding global economic and financial
market conditions; the susceptibility of the wireless semiconductor industry and the markets
addressed by our, and our customers, products to economic downturns; the timing, rescheduling or
cancellation of significant customer orders and our ability, as well as the ability of our
customers, to manage inventory; losses or curtailments of purchases or payments from key customers,
or the timing of customer inventory adjustments; the availability and pricing of third party
semiconductor foundry, assembly and test capacity, raw materials and supplier components; changes
in laws, regulations and/or policies in the United States that could adversely affect financial
markets and our ability to raise capital; our ability to develop, manufacture and market innovative
products in a highly price competitive and rapidly changing technological environment; economic,
social and political conditions in the countries in which we, our customers or our suppliers
operate, including security and health risks, possible disruptions in transportation networks and
fluctuations in foreign currency exchange rates; fluctuations in our manufacturing yields due to
our complex and specialized manufacturing processes; delays or disruptions in production due to
equipment maintenance, repairs and/or upgrades; our reliance on several key customers for a large
percentage of our sales; fluctuations in the manufacturing yields of our third party semiconductor
foundries and other problems or delays in the fabrication, assembly, testing or delivery of our
products; our ability to timely and accurately predict market requirements and evolving industry
standards, and to identify opportunities in new markets; uncertainties of litigation, including
potential disputes over intellectual property infringement and rights, as well as payments related
to the licensing and/or sale of such rights; our ability to rapidly develop new products and avoid
product obsolescence; our ability to retain, recruit and hire key executives, technical personnel
and other employees in the positions and numbers, with the experience and capabilities, and at the
compensation levels needed to implement our business and product plans; lengthy product development
cycles that impact the timing of new product introductions; unfavorable changes in product mix; the
quality of our products and any remediation costs; shorter than expected product life cycles;
problems or delays that we may face in shifting our products to smaller geometry process
technologies and in achieving higher levels of design integration; and our ability to continue to
grow and maintain an intellectual property portfolio and obtain needed licenses from third parties,
as well as other risks and uncertainties, including but not limited to those detailed from time to
time in our filings with the Securities and Exchange Commission.
These forward-looking statements are made only as of the date hereof, and we undertake no
obligation to update or revise the forward-looking statements, whether as a result of new
information, future events or otherwise.
Note to Editors: Skyworks and Skyworks Solutions are trademarks or registered trademarks of
Skyworks Solutions, Inc. or its subsidiaries in the United States and in other countries. All other
brands and names listed are trademarks of their respective companies.
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