Letter to our Customers -- What the potential Acquisition of Broadcom's Wireless IoT Business Means to You | Cypress Semiconductor
Letter to our Customers -- What the potential Acquisition of Broadcom's Wireless IoT Business Means to You
Dear Valued Customer,
Last Thursday, we announced the signing of a definitive agreement to acquire Broadcom’s Wireless Internet of Things (IoT) business and related assets. This acquisition strengthens Cypress’s position in key embedded systems markets, such as automotive and industrial, and establishes it as a leader in the high-growth consumer IoT markets, a segment that includes wearable electronics and home automation solutions. You can view the full press release and investor presentation here.
This acquisition represents the combination of two entrepreneurial companies with strong corporate cultures that are deeply rooted in innovation and achievement. Our focus during this transition will be to continue to provide our customers with substantial system value and the highest-quality solutions while we build a foundation for the future.
We want you to know that we are committed to delivering these products, services and solutions to you with quality customer service. After we close this transaction, our priority will be to create a single face for our customers. Until closing, however, it will be business as usual with no changes in the way we work together.
This acquisition, expected to close early in the third quarter of 2016, will provide our customers with more options for a broad, embedded product line offering MCU, Flash, PSoC and USB in addition to an unparalleled connectivity portfolio for the IoT needs of tomorrow. The combination of Cypress and Broadcom’s IP will enable us to produce even more advanced products within our embedded portfolio for next generation automotive, industrial and consumer applications electronics, resulting in faster and more energy efficient, connected products.
We are committed to supporting and growing the robust WICED™ brand and developer network which is a platform that brings secure Wi-Fi, Bluetooth and Bluetooth Low Energy (BLE) wireless connectivity to nearly every emerging product category in the IoT ecosystem. Interoperability is critical to the proliferation of the IoT – including home appliances, health and fitness monitors, automation and asset tracking systems, smart meters and an array of consumer electronic devices.
We understand that you may have questions regarding this announcement. Our Sales team stands ready to field your questions at a time that is convenient for you.