Cypress Comments on Market Rumors Regarding Atmel | Cypress Semiconductor
Cypress Comments on Market Rumors Regarding Atmel
SAN JOSE, Calif., September 28, 2015 – Cypress Semiconductor Corp. (NASDAQ: CY) today issued the following statement in response to recent market rumors regarding Atmel Corporation (NASDAQ: ATML).
Cypress previously submitted an offer to the Board of Directors of Atmel to acquire Atmel. That offer expired and Cypress has withdrawn its interest in an acquisition of Atmel. Cypress regularly evaluates acquisition opportunities to complement its existing business, and maintains a disciplined approach to ensure that it continues to deliver long-term value to its shareholders.
Cypress (NASDAQ: CY) delivers high-performance, high-quality solutions at the heart of today’s most advanced embedded systems, from automotive, industrial and networking platforms to highly interactive consumer and mobile devices. With a broad, differentiated product portfolio that includes NOR flash memories, F-RAM™ and SRAM, Traveo™ microcontrollers, the industry’s only PSoC® programmable system-on-chip solutions, analog and PMIC Power Management ICs, CapSense® capacitive touch-sensing controllers, and Wireless BLE Bluetooth Low-Energy and USB connectivity solutions, Cypress is committed to providing its customers worldwide with consistent innovation, best-in-class support and exceptional system value. To learn more, go to www.cypress.com.
Statements herein that are not historical facts and that refer to Cypress or its subsidiaries’ plans and expectations for the future are forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. We may use words such as “may,” “will,” “should,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue” or other wording indicating future results or expectations to identify such forward-looking statements that include, but are not limited to, statements related to our current or future acquisition plans and strategy. Such statements reflect our current expectations, which are based on information and data available to our management as of the date of this release. Our actual results may differ materially due to a variety of uncertainties and risk factors, including, but not limited to, the state of and future of the global economy, business conditions, acquisition and growth trends in the semiconductor market and other risks described in Item 1A., “Risk Factors,” in Cypress’s Annual Report on Form 10-K for the fiscal year ended December 28, 2014, Cypress’s Quarterly Report on Form 10-Q for the quarter ended June 28, 2015, and our other filings with the Securities and Exchange Commission. We assume no responsibility to update any such forward-looking statements.
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