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Atmel to Acquire ADD Semiconductor
Sep 27, 2011 (04:09 PM EDT)
A Leading Developer of Power Line Communications Technology
SAN JOSE, Calif., Sept. 27, 2011 /PRNewswire/ -- Atmel® Corporation (Nasdaq: ATML) today announced that it has signed a definitive agreement to acquire Advanced Digital Design, S.A. ("ADD Semiconductor"), a privately held company based in Zaragoza, Spain that develops power line communication solutions. The transaction is subject to customary closing conditions and is expected to close in October. Atmel does not expect the acquisition to have a material impact on its overall financial position and results of operations in 2011.
ADD Semiconductor, a founding member of the PRIME Alliance, specializes in the design of system-on-chip solutions that allow for narrow-band data communication across existing electric power lines. In addition to successfully supporting a number of advanced meter infrastructure ("AMI") pilots in Europe, ADD Semiconductor products are also targeted towards the lighting, building automation and solar infrastructure markets.
With ADD Semiconductor, Atmel will acquire a portfolio of innovative products and a team of technical experts focused on signal processing and power line communications. This acquisition complements Atmel's existing smart energy product portfolio, better positioning the company for continued success in the growing smart meter, energy management, home and building automation markets.
Safe Harbor for Forward-Looking Statements
Information in this release regarding Atmel's forecasts, business outlook, expectations and beliefs are forward-looking statements that involve risks and uncertainties. These statements may include comments about our future operating and financial performance, including our outlook for 2011, our expectations regarding market share and product revenue growth, and Atmel's strategies. All forward-looking statements included in this release are based upon information available to Atmel as of the date of this release, which may change. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include general economic conditions and other risks detailed from time to time in Atmel's SEC reports and filings, including our Form 10-K for the year ended December 31, 2010, filed on March 1, 2011, and our subsequent Form 10-Q reports. Atmel assumes no obligation and does not intend to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Atmel Corporation (Nasdaq: ATML) is a worldwide leader in the design and manufacture of microcontrollers, capacitive touch solutions, advanced logic, mixed-signal, nonvolatile memory and radio frequency (RF) components. Leveraging one of the industry's broadest intellectual property (IP) technology portfolios, Atmel is able to provide the electronics industry with complete system solutions focused on industrial, consumer, communications, computing and automotive markets.
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