Sigma Designs Announces the Engagement of Financial Advisor to Explore Options for Enhancing Stockholder Value
July 26 2017 - 9:00AM
Sigma Designs® (NASDAQ:SIGM), a leading provider of Smart TV
platforms and IoT devices, today announced that its Board of
Directors has engaged Deutsche Bank Securities Inc., as a financial
advisor to assist in its exploration of strategic alternatives that
may enhance stockholder value. As previously disclosed, Sigma
has been carefully reviewing all of its product lines to determine
which offer the best synergistic fit with its long-term growth
plans. This review may result in Sigma continuing to
implement value-enhancing initiatives as a standalone company, such
as the continued implementation of its previously announced
restructuring plans, a sale of the company or certain product
lines, or other possible transactions.
No decision has been made to enter into any
transaction at this time, and there is no assurance that the
Board’s exploration of strategic alternatives will result in any
transaction being entered into or consummated. In addition,
there is no set timetable for the exploration of strategic
alternatives.
Sigma Designs does not intend to disclose
developments or provide updates on the progress or status of this
process unless it approves a specific transaction requiring
disclosure or otherwise completes its review.
About Sigma DesignsSigma
Designs, Inc. (NASDAQ:SIGM) is a world leader in enabling smart
home convergence. The company designs and builds the essential
semiconductor technologies that serve as the foundation for the
world’s leading Connected Smart TV platforms and Internet of Things
(IoT) for smart home devices. For more information about Sigma
Designs, please visit www.sigmadesigns.com.
Sigma Designs and the Sigma Designs logo are
either registered trademarks or trademarks of Sigma Designs, Inc.
and its subsidiaries in the United States and other countries. All
other trademarks mentioned herein are believed to be trademarks of
their respective owners
Safe Harbor Statement This
press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934 including statements
about the exploration of strategic alternatives and the
implementation of previously announced restructuring plans. Actual
results may vary materially due to a number of factors including,
but not limited to, the ability of Sigma to identify and execute
strategic alternatives, the risk that its review of strategic
alternatives may have unintended consequences, such as the
distraction of management, the loss of one or more customers and a
negative impact on the retention of employees, as well as other
risks that are detailed from time to time in Sigma's filings with
the Securities and Exchange Commission. In particular, see Sigma’s
recent quarterly and annual reports filed with the Securities and
Exchange Commission, copies of which are available online at
www.sec.gov and by request from Sigma. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. Sigma undertakes no
obligation to publicly release or otherwise disclose the result of
any revision to these forward-looking statements that may be made
as a result of events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
Investor Relations Contacts:
Jim Fanucchi
Darrow Associates, Inc.
(408) 404-5400
IR@sigmadesigns.com
Elias Nader, CFO, SVP & Corporate Secretary
Sigma Designs, Inc.
IR@sigmadesigns.com