Dainippon Screen Acquires Cypress's Silicon Light Machines Subsidiary | Cypress Semiconductor
Dainippon Screen Acquires Cypress's Silicon Light Machines Subsidiary
Cypress to Integrate SLM's Ovation Laser Navigation Sensor Business Into Its Consumer and Computation Division
SAN JOSE, Calif., and KYOTO, Japan, July 1, 2008 - Cypress Semiconductor Corp. (NYSE: CY) and Dainippon Screen Manufacturing Co. Ltd. (DNS) of Kyoto, Japan (7735: Tokyo Stock Exchange) today announced that DNS has acquired Silicon Light Machines (SLM), a Cypress subsidiary.
The acquisition will make Silicon Light Machines a wholly owned subsidiary of DNS. Financial terms of the acquisition were not disclosed.
DNS is Silicon Light Machines' largest Grating Light Valve™ (GLV™) customer. GLV technology, SLM's flagship product, consists of a series of microscopic ribbons suspended above a silicon substrate that can be precisely tuned to diffract laser light in different ways. The Micro-Electro-Mechanical System (MEMS) solution is ideal for computer-to-plate (CTP) commercial printing and other imaging applications.
Acquired by Cypress in August 2000, SLM also developed a high-performance laser optical navigation sensor technology marketed under the name OvationONS™, which has become popular in high-end gaming, and other markets. The OvationONS product line is being integrated into Cypress's core business.
"This transaction reflects our desire to divest businesses that are not optimally aligned with our mission to become a global programmable solutions leader," said Cypress's President and CEO, T.J. Rodgers. "The divestiture of SLM's GLV business-the seventh such transaction in two years-will bring greater focus to our core business, while the integration of SLM's optical laser navigation technology will enable us to expand our suite of programmable solutions serving the keyboard/mouse market."
Masanari Tsuda, senior managing director and chief technology officer at DNS said SLM's technology will play an important role in the company's growing business. "Silicon Light Machines' GLV technology has been an enabler for our leadership position in thermal CTP printing applications. Now that it is part of DNS, we will be looking to this group to produce products that will enable us to expand our imaging technology into other markets."
Hal Zarem, CEO of SLM said, "SLM will transition from being a subsidiary of its main wafer supplier to becoming a subsidiary of its main customer. I'm pleased to be joining a forward-looking organization that is as committed to developing new products for new markets as Cypress has been."
Zarem added, "SLM will continue to serve its existing customers and grow its business as an independent company under a new corporate umbrella."
About Dainippon Screen Manufacturing Co. Ltd.
Dainippon Screen is a Top-10 supplier of semiconductor equipment, specializing in wafer cleaning systems. Screen was established in 1943 and has expanded its operations based on core technologies developed over the years. These technologies include image processing, transfer and exposure. Using these core technologies, it is developing its business in the following areas. The semiconductor, flat panel display (FPD) and printed circuit board (PCB) production equipment businesses that form the core of information technology (IT) societies. The media technology business, which offers prepress equipment and print on-demand equipment. These businesses are contributing to the creation of an information-based society by expanding modes of communication. Visit Dainippon Screen online at www.screen.co.jp.
About Silicon Light Machines
Founded in 1994, Silicon Light Machines (SLM) makes tiny silicon machines for handling light." SLM's patented Grating Light Valve (GLV) technology is used to build optical microelectromechanical systems, on silicon wafers. The company's products are used in high-end displays, commercial printing and other imaging applications. For more information about SLM, visit www.siliconlight.com on the Internet.
Cypress delivers high-performance, mixed-signal, programmable solutions that provide customers with rapid time-to-market and exceptional system value." Cypress offerings include the PSoC® Programmable System-on-Chip™, USB controllers, general-purpose programmable clocks and memories. Cypress also offers wired and wireless connectivity solutions ranging from its WirelessUSB™ radio system-on-chip, to West Bridge™ and EZ-USB® FX2LP controllers that enhance connectivity and performance in multimedia handsets. Cypress serves numerous markets including consumer, computation, data communications, automotive, industrial, and solar power. Cypress trades on the NYSE under the ticker symbol CY. Visit Cypress online at www.cypress.com.
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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 use words such as "believe," "expect," "future," "plan," "intend" and similar expressions to identify such forward-looking statements that include, but are not limited to, statements regarding our plans to become the leader in programmable products and the effect of this transaction on the Company. 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 a variety of uncertainties and risk factors, including risks described in our filings, as well as SunPower's filings, with the Securities and Exchange Commission. We assume no responsibility to update any such forward-looking statements.
Cypress and the Cypress logo, PSoC and EZ-USB are registered trademarks of Cypress Semiconductor Corporation. Programmable System-on-Chip, WirelessUSB and West Bridge are trademarks of Cypress Semiconductor Corp. GLV, Grating Light Valve and Silicon Light Machines are trademarks of Silicon Light Machines Corp. All other trademarks are the property of their respective owners