AUSTIN, Texas--(BUSINESS WIRE)--March 23, 2007--Silicon
Laboratories Inc. (Nasdaq:SLAB), a leader in high-performance,
analog-intensive, mixed-signal integrated circuits (ICs), today
announced it finalized the sale of the Aero product lines to NXP,
formerly Philips Semiconductor.
"With the close of this transaction, our focus will be on
mixed-signal product lines where the expected return on investment is
aligned with our business model targets," stated Necip Sayiner,
president and chief executive officer of Silicon Laboratories.
Announced in February 2007, NXP purchased the Aero product lines,
including the Aero transceiver, AeroFONE single-chip phone and
power amplifier, for $285 million in cash. There is an additional
earn-out potential of up to an aggregate of $65 million over the next
three years based on the broad acceptance of AeroFONE technology.
About Silicon Laboratories Inc.
Silicon Laboratories Inc. is a leading designer of
high-performance, analog-intensive, mixed-signal integrated circuits
(ICs) for a broad range of applications. Silicon Laboratories' diverse
portfolio of highly-integrated, patented solutions is developed by a
world-class engineering team with decades of cumulative expertise in
cutting-edge mixed-signal design. The company has design, engineering,
marketing, sales and applications offices throughout North America,
Europe and Asia. For more information about Silicon Laboratories,
please visit www.silabs.com.
Forward-Looking Statement
This press release contains forward-looking statements based on
Silicon Laboratories' current expectations. The words "believe,"
"estimate," "expect," "intend," "anticipate," "plan," "project,"
"will" and similar phrases as they relate to Silicon Laboratories are
intended to identify such forward-looking statements. These
forward-looking statements reflect the current views and assumptions
of Silicon Laboratories and are subject to various risks and
uncertainties that could cause actual results to differ materially
from expectations. Among the factors that could cause actual results
to differ materially from those in the forward-looking statements are
the following: risks relating to the achievement of the earn-out; the
potential for unexpected liabilities related to the disposition of the
business; risks that Silicon Laboratories may not be able to maintain
its historical growth; average selling prices of products may decrease
significantly and rapidly, dependence on a limited number of products
and customers; difficulties developing new products that achieve
market acceptance; risks that Silicon Laboratories may not be able to
manage strains associated with this divestiture and/or any future
growth or acquisitions; dependence on key personnel; and other factors
that are detailed in Silicon Laboratories' filings with the SEC.
Silicon Laboratories disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Note to editors: The Silicon Labs logo is a trademark of Silicon
Laboratories Inc. All other product names noted herein may be
trademarks of their respective holders.
CONTACT: Silicon Laboratories Inc., Austin
Investor Contact:
Kellie Nugent, 972-239-5119, ext. 125
knugent@sheltongroup.com
or
Media Contact:
Kirstan Ryan, 512-416-8500
kirstan.ryan@silabs.com
SOURCE: Silicon Laboratories Inc.