WOBURN, Mass. & SANTA CLARA, Calif., May 26, 2011 (BUSINESS WIRE) -- Skyworks Solutions, Inc. (NASDAQ:SWKS), an innovator of high reliability analog and mixed signal semiconductors enabling a broad range of end markets, today signed a definitive agreement to purchase Advanced Analogic Technologies Incorporated (NASDAQ:AATI), an analog semiconductor company focused on enabling energy-efficient devices for consumer electronics, computing and communications markets. This acquisition expands Skyworks' portfolio with highly complementary analog semiconductor products including battery chargers, DC/DC converters, voltage regulators and LED drivers. The analog power management market is expected to grow to $12.1 billion in 2014, up from $9.9 billion in 2010 according to Gartner market research.
Skyworks has entered into a definitive agreement to acquire Advanced Analogic Technologies for a nominal price of $6.13 per share, representing a 52 percent premium to Advanced Analogic Technologies' 30-day trailing average. The $6.13 nominal share price consists of $3.68 per share in cash and .08725 of a share of Skyworks common stock for each outstanding share of Advanced Analogic Technologies common stock. The amount of stock is based upon the average closing price of Skyworks common stock over the 30-trading days prior to May 26, 2011. At that average price, the stock component of the price has a nominal value of $2.45. The value of the stock component will be tested again at closing, based on the average closing price of Skyworks common stock during the five trading days prior to the closing. If the average pre-closing value is lower than $2.45, the amount of cash per share will be increased by the difference, and if the average pre-closing value is higher than $2.45, the amount of cash per share will be reduced by the difference, to maintain a calculated nominal value of $6.13 per Advanced Analogic Technologies share in either case.
The transaction is subject to approval by Advanced Analogic Technologies' shareholders. The transaction is also subject to other customary closing conditions, including the receipt of applicable regulatory approvals. Excluding any non-recurring acquisition related charges and amortization of acquired intangibles, Skyworks expects the acquisition to be immediately accretive to non-GAAP earnings post-closing and will finalize estimates of the transaction's financial impact, as well as the accounting for the transaction, upon deal close.
About Advanced Analogic Technologies
Advanced Analogic Technologies Incorporated (AATI), or AnalogicTech, develops advanced semiconductor system solutions that play a key role in the continuing evolution of feature-rich, energy efficient electronic devices. The company focuses on addressing the application-specific power management needs of consumer devices such as mobile handsets, digital cameras, tablets, notebooks, TV and LCD displays, as well as devices in a broad range of industrial, medical and telecom applications. AATI also licenses device, process, package, and application-related technologies. Headquartered in Silicon Valley, AATI has design centers in Santa Clara and Shanghai, and Asia-based operations and logistics. For more information, please visit www.analogictech.com.
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 Company's 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.
Showing posts with label Skyworks. Show all posts
Showing posts with label Skyworks. Show all posts
Thursday, May 26, 2011
Friday, May 20, 2011
Skyworks to acquire SiGe
WOBURN, Mass. & ANDOVER, Mass., May 17, 2011 (BUSINESS WIRE) -- Skyworks Solutions, Inc. (NASDAQ: SWKS), an innovator of high reliability analog and mixed signal semiconductors enabling a broad range of end markets, today signed a definitive agreement to purchase 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 acquisition of SiGe, a fabless semiconductor provider, complements Skyworks' leadership in wide area front-end solutions by adding SiGe's innovative short range, silicon-based products. As a result, Skyworks will be able to offer customers a comprehensive wireless networking product portfolio, supporting all key operating frequencies with architectural flexibility to address a variety of high growth applications. Specifically, via this transaction, Skyworks immediately expands its addressable content opportunity within several strategic product areas including smart phones, tablets, gaming consoles, notebook PCs and home automation systems.
"Skyworks' acquisition of SiGe Semiconductor underscores our commitment to capitalize on ubiquitous wireless connectivity," said David J. Aldrich, president and chief executive officer of Skyworks. "To that end, this acquisition is highly complementary in terms of our addressed markets, sales channels, process technologies, design methodologies and baseband partnerships. At the same time, the SiGe business presents significant operational and cost synergies yielding immediate earnings accretion and long-term shareholder value creation."
"Skyworks clearly represents the best strategic and cultural fit for SiGe Semiconductor," said Sohail Khan, president and chief executive officer of SiGe Semiconductor. "Both companies have a long history of front-end innovation and a shared vision of the future of band-intensive wireless networking. Together, we can develop and deliver products of unprecedented integration and improve our customers' performance in the increasingly connected wireless world."
Skyworks will pay $210 million in cash, plus an additional $65 million if certain performance targets are met over the next 12 months. The transaction has been approved by Skyworks' and SiGe's boards of directors and is anticipated to close in June, subject to customary closing conditions, including the receipt of domestic and foreign regulatory approvals. Excluding any non-recurring acquisition related charges and amortization of acquired intangibles, Skyworks expects the acquisition to be immediately accretive to non-GAAP earnings and will finalize estimates of the transaction's financial impact, as well as the accounting for the transaction, upon deal close.
SiGe Semiconductor's diverse and comprehensive product portfolio provides the performance, range and reliability required by 802.11b/g/a/n, Bluetooth(R), WiMAX, GPS and ZigBee(R) Systems. The company's innovative utilization of silicon-based semiconductor technologies simplifies the integration of RF signal processing for many of today's leading consumer, commercial and industrial electronics companies. Key SiGe customers include Cisco, Dell, Huawei, Hewlett-Packard, NetGear, Itron, Microsoft, Nintendo, Samsung and Sony.
About SiGe Semiconductor
SiGe Semiconductor is a leading provider of highly integrated RF semiconductor front-end solutions that enable wireless connectivity across a wide range of applications. Our innovative solutions integrate multiple RF functions into a single semiconductor device to deliver an optimal combination of performance, power output and efficiency, and size. Our predominant use of standard silicon based processes and fabless manufacturing model enables us to achieve high levels of functional integration, leverage the economies of scale of high volume manufacturing technology, maintain low costs and accelerate our time-to-market. We have shipped more than 750 million front-end solutions since our inception, primarily consisting of Wi-Fi(TM) front end modules and power amplifiers.
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 Company's 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.
"Skyworks' acquisition of SiGe Semiconductor underscores our commitment to capitalize on ubiquitous wireless connectivity," said David J. Aldrich, president and chief executive officer of Skyworks. "To that end, this acquisition is highly complementary in terms of our addressed markets, sales channels, process technologies, design methodologies and baseband partnerships. At the same time, the SiGe business presents significant operational and cost synergies yielding immediate earnings accretion and long-term shareholder value creation."
"Skyworks clearly represents the best strategic and cultural fit for SiGe Semiconductor," said Sohail Khan, president and chief executive officer of SiGe Semiconductor. "Both companies have a long history of front-end innovation and a shared vision of the future of band-intensive wireless networking. Together, we can develop and deliver products of unprecedented integration and improve our customers' performance in the increasingly connected wireless world."
Skyworks will pay $210 million in cash, plus an additional $65 million if certain performance targets are met over the next 12 months. The transaction has been approved by Skyworks' and SiGe's boards of directors and is anticipated to close in June, subject to customary closing conditions, including the receipt of domestic and foreign regulatory approvals. Excluding any non-recurring acquisition related charges and amortization of acquired intangibles, Skyworks expects the acquisition to be immediately accretive to non-GAAP earnings and will finalize estimates of the transaction's financial impact, as well as the accounting for the transaction, upon deal close.
SiGe Semiconductor's diverse and comprehensive product portfolio provides the performance, range and reliability required by 802.11b/g/a/n, Bluetooth(R), WiMAX, GPS and ZigBee(R) Systems. The company's innovative utilization of silicon-based semiconductor technologies simplifies the integration of RF signal processing for many of today's leading consumer, commercial and industrial electronics companies. Key SiGe customers include Cisco, Dell, Huawei, Hewlett-Packard, NetGear, Itron, Microsoft, Nintendo, Samsung and Sony.
About SiGe Semiconductor
SiGe Semiconductor is a leading provider of highly integrated RF semiconductor front-end solutions that enable wireless connectivity across a wide range of applications. Our innovative solutions integrate multiple RF functions into a single semiconductor device to deliver an optimal combination of performance, power output and efficiency, and size. Our predominant use of standard silicon based processes and fabless manufacturing model enables us to achieve high levels of functional integration, leverage the economies of scale of high volume manufacturing technology, maintain low costs and accelerate our time-to-market. We have shipped more than 750 million front-end solutions since our inception, primarily consisting of Wi-Fi(TM) front end modules and power amplifiers.
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 Company's 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.
Tuesday, June 2, 2009
Skyworks Acquires Axiom Microdevices
WOBURN, Mass.--(BUSINESS WIRE)--Skyworks Solutions, Inc. (NASDAQ:SWKS), an innovator of high reliability analog and mixed signal semiconductors enabling a broad range of end markets, today announced its acquisition of Axiom Microdevices, the world's only volume supplier of CMOS-based power amplifiers for mobile phones. “The acquisition of Axiom complements our existing GaAs capabilities, bolsters our fundamental intellectual property portfolio and augments our design expertise,” said David J. Aldrich, president and chief executive officer of Skyworks. “Today Skyworks is the leading supplier of both GaAs and silicon front-end solutions for cellular and smart phone applications. With the addition of Axiom’s patent and product design portfolio, we can further our industry leadership position. At the same time, this acquisition supports our existing product road maps in adjacent linear products markets, such as low power smart grid networks and wireless meter reading, where we maintain a first-mover advantage. At a higher level, this transaction is another important step towards realizing our vision of enabling mobile connectivity in handsets and across a set of highly diverse analog markets.”
Terms of the acquisition were not disclosed and will have no significant impact to Skyworks’ operating expenses. Accordingly, the company expects the transaction to be earnings per share neutral in fiscal year 2009 and accretive thereafter.
Terms of the acquisition were not disclosed and will have no significant impact to Skyworks’ operating expenses. Accordingly, the company expects the transaction to be earnings per share neutral in fiscal year 2009 and accretive thereafter.
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