AUSTIN, Texas--(BUSINESS WIRE)--
Silicon
Labs (NASDAQ: SLAB), a leader in high-performance, analog-intensive,
mixed-signal ICs, today announced it has completed the acquisition of
Energy Micro AS. This strategic acquisition accelerates Silicon Labs'
growth opportunities and positions the company as the foremost innovator
in energy-friendly embedded solutions for the Internet of Things, smart
energy, home automation, security and portable electronics markets.
Based in Oslo, Norway, Energy Micro offers the industry's most
energy-efficient portfolio of 32-bit microcontrollers (MCUs) based on
the industry-leading ARM® Cortex™-M architecture and is developing
multi-protocol wireless RF solutions also based on ARM architecture.
Energy Micro's ultra-low-power portfolio complements Silicon Labs'
existing 32-bit Precision32™ mixed-signal MCUs and sub-GHz and ZigBee®
wireless RF products and targets a rapidly growing embedded market. The
acquisition greatly expands Silicon Labs' 32-bit MCU and wireless SoC
portfolio, adding nearly 250 energy-friendly MCUs and new low-power
wireless protocols such as Bluetooth LE.
Under the agreement, the shareholders of Energy Micro will receive an
up-front payment of $115 million in cash, plus approximately $55 million
in deferred and earn-out consideration. Energy Micro is expected to
contribute approximately $7 million in revenue in the second half of
2013. Anticipated growth is expected to allow the transaction to be
accretive on a non-GAAP basis by the end of 2014.
About Silicon Labs
Silicon Labs is an industry leader in the innovation of
high-performance, analog-intensive, mixed-signal ICs. Developed by a
world-class engineering team with unsurpassed expertise in mixed-signal
design, Silicon Labs' diverse portfolio of patented semiconductor
solutions offers customers significant advantages in performance, size
and power consumption. For more information about Silicon Labs, please
visit www.silabs.com.
Cautionary Language
This press release contains forward-looking statements based on Silicon
Labs' current expectations. The words "believe," "estimate," "expect,"
"intend," "anticipate," "plan," "project," "will," "expanding,"
"growing," and similar phrases as they relate to Silicon Labs or Energy
Micro are intended to identify such forward-looking statements. These
forward-looking statements reflect the current views and assumptions of
Silicon Labs 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 related
to the successful completion of the development and implementation of
Energy Micro's technology, risks that the acquisition may not yield the
expected benefits due to the failure to properly integrate the acquired
business and employees; risks that the acquired business' products and
processes under development may fail to achieve market acceptance; risks
of disputes regarding the acquired business and intellectual property;
risks that the performance of Silicon Labs' existing business may not
offset the dilutive effects of the acquisition; risks associated with
the competitive and cyclical nature of the semiconductor industry and
other factors that are detailed in Silicon Labs' filings with the SEC.
Silicon Labs 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: Silicon Laboratories, Silicon Labs and the Silicon
Labs logo are trademarks of Silicon Laboratories Inc. All other product
names noted herein may be trademarks of their respective holders.
Silicon Laboratories Inc.
Deborah Stapleton, 650-470-4200
investor.relations@silabs.com
Source: Silicon Laboratories Inc.
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