Conexant to Acquire Freescale's 'Sigmatel' Multi-Function Printer Product Lines
08 Luglio 2008 - 2:00PM
Business Wire
Conexant Systems, Inc. (NASDAQ: CNXTD) today announced that it
signed a definitive agreement with Freescale Semiconductor to
acquire its �SigmaTel� multi-function printer (MFP) imaging product
lines. The single-chip solutions were developed by SigmaTel, Inc.,
which was a leading provider of broad-based MFP imaging solutions
prior to its acquisition by Freescale. Multi-function printers
feature copy, fax, and scan capabilities. When the transaction is
completed, Conexant will be a leading provider of semiconductor
solutions for MFP and facsimile imaging applications. The
transaction is subject to customary closing conditions, and is
expected to close within the next 30 days. Terms of the agreement
were not disclosed. �When we complete the acquisition of
Freescale�s SigmaTel MFP imaging product lines, Conexant will be a
leading supplier of innovative solutions to the high-growth MFP
market segment,� said Bernd Lienhard, senior vice president and
general manager of Conexant�s Imaging and PC Media business. �We
will also strengthen our imaging product and technology portfolio,
and broaden our customer base. In addition, we gain a dedicated and
experienced design team that will enable us to accelerate the
introduction of advanced imaging solutions.� More than 50 Freescale
employees, primarily based in Waltham, Massachusetts, are expected
to join Conexant�s Imaging and PC Media (IPM) group when the
transaction closes. The design team has extensive expertise in
printer and imaging technologies, and has developed and delivered
solutions with industry-leading processing speeds to major printer
manufacturers worldwide. According to industry estimates, shipments
of MFPs are expected to increase from approximately 73 million
units in 2007 to more than 115 million units in 2011, an increase
of nearly 60 percent. Conexant will also acquire Freescale�s
SigmaTel digital photo frame product lines, which allow users to
view and share photos from traditional digital cameras, camera
phones, and photo-sharing Web sites on high-resolution LCD
displays. SigmaTel�s multimedia applications processor technology
will be excluded from the acquisition. Conexant is currently the
No.1 provider of semiconductor solutions for facsimile
applications. When the transaction is completed, the company�s
comprehensive imaging product offering will include fax
system-on-chip (SoC) and datapump solutions, highly integrated MFP
SoCs for inkjet, laser, and photo printers, and high-performance
system solutions for digital photo frames. About Conexant
Conexant�s comprehensive portfolio of innovative semiconductor
solutions includes products for Internet connectivity, digital
imaging, and media processing applications. Conexant is a fabless
semiconductor company that recorded revenues of $809 million in
fiscal year 2007. The company is headquartered in Newport Beach,
Calif. To learn more, please visit www.conexant.com. Safe Harbor
Statement �Safe Harbor� Statement under the Private Securities
Litigation Reform Act of 1995: This release includes
forward-looking statements intended to qualify for the safe harbor
from liability established by the Private Securities Litigation
Reform Act of 1995. These forward-looking statements generally can
be identified by phrases such as Conexant or its management
�believes,� �expects,� �anticipates,� �foresees,� �forecasts,�
�estimates� or other words or phrases of similar import. Similarly,
statements in this release that describe our business strategy,
outlook, objectives, plans, intentions or goals also are
forward-looking statements. All such forward-looking statements are
subject to certain risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. These risks and uncertainties include, but are not
limited to: pricing pressures and other competitive factors; our
ability to timely develop and implement new technologies and to
obtain protection for the related intellectual property; the
cyclical nature of the semiconductor industry and the markets
addressed by our products and our customers� products; volatility
in the technology sector and the semiconductor industry; our
successful development of new products; the timing of our new
product introductions and our product quality; demand for and
market acceptance of our new and existing products; our ability to
anticipate trends and develop products for which there will be
market demand; the availability of manufacturing capacity; changes
in our product mix; product obsolescence; the ability of our
customers to manage inventory; the risk that capital needed for our
business and to repay our indebtedness will not be available when
needed; the risk that the value of our common stock may be
adversely affected by market volatility; the substantial losses we
have incurred; the uncertainties of litigation, including claims of
infringement of third-party intellectual property rights or demands
that we license third-party technology, and the demands it may
place on the time and attention of our management and the expense
it may place on our company; general economic and political
conditions and conditions in the markets we address; and possible
disruptions in commerce related to terrorist activity or armed
conflict, as well as other risks and uncertainties, including those
detailed from time to time in our Securities and Exchange
Commission filings. The forward-looking statements are made only as
of the date hereof. We undertake no obligation to update or revise
the forward-looking statements, whether as a result of new
information, future events or otherwise. Conexant is a registered
trademark of Conexant Systems, Inc. Other brands and names
contained in this release are the property of their respective
owners.
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