ISSI Announces Acquisition of Enable Semiconductor
April 27 2009 - 4:15PM
PR Newswire (US)
Expands Ultra Low Power Memory Offering in KGD Format Targeted for
the Portable Consumer Market SAN JOSE, Calif., April 27
/PRNewswire-FirstCall/ -- Integrated Silicon Solution, Inc
(NASDAQ:ISSI), a leader in advanced memory solutions, today
announced it has acquired Enable Semiconductor Corporation, a
private Taiwan and Korea based company, formerly a subsidiary of
Nanoamp Solutions, Inc. For ISSI, the acquisition adds both ultra
low power Single Data Rate (SDR) and Double Data Rate (DDR) SDRAMs,
and ultra low power Pseudo SRAMs in Known Good Die (KGD) and
package format targeted at the portable consumer products market.
Enable Semiconductor provides ISSI with a full range of ultra low
power SDR and DDR SDRAMs, with densities from 16Mb to 128Mb,
including low voltage (1.8V) and wide bus (x32) options, all
available in industrial temperature range and available in KGD
format optimized for multichip package (MCP) applications. These
ultra low power SDRAMs provide longer battery life by using up to
50% less standby current than low power memories from other
manufacturers. "Enable's products and technology fill a strategic
need for ISSI in the ultra low power memory markets targeting
consumer portables," said Scott Howarth, ISSI president and CEO.
"With this acquisition, we get leading edge ultra low-power
memories and a proven team to enable us to expand this product
line. We expect this acquisition to provide excellent growth
opportunity as the growth of the portable consumer products market
continues to drive the need for lower power, higher performance
memories." Enable also brings ISSI ultra low power Pseudo SRAMs
(PSRAMs), initially with a 32Mb product, and with a roadmap for
densities from 8Mb to 128Mb. In addition to these PSRAMs, Enable
Semiconductor is part of the CellularRAM(R) consortium that is
developing a CellularRAM product family to replace existing low
power SRAM used in the portable consumer products market.
CellularRAM memory devices offer the best SRAM and DRAM features,
combining low power consumption, high-speed READ and WRITE
functions, with lower cost. Additionally the CellularRAM family
under development by Enable Semiconductor will be available in KGD
format optimized for MCP applications. "The addition of Enable's
product offerings gives ISSI the ultra low power technology in a
proven KGD format that puts us right into the MCPs necessary to
fill this need for our customers," said Ron Kalakuntla, Vice
President of marketing at ISSI. "We will now be able to support a
broad range of low power memory applications like cell phones, GPS,
digital cameras, LCD TVs, and PDAs in the portable consumer
products market." The total purchase price was $3.5 million with
the potential for additional contingent payments based on future
operating results. The acquisition is expected to be accretive to
ISSI's financial results by the December 2009 quarter. About ISSI
ISSI is a fabless semiconductor company that designs and markets
high performance integrated circuits for the following key markets:
(i) digital consumer electronics, (ii) networking, (iii) mobile
communications, (iv) automotive electronics, and (v) industrial.
The Company's primary products are high speed and low power SRAM
and low and medium density DRAM in package and low-power KGD
configurations. The Company also designs and markets EEPROM,
SmartCards and is developing selected non-memory products focused
on its key markets. ISSI is headquartered in Silicon Valley with
worldwide offices in Taiwan, Japan, Singapore, China, Europe, Hong
Kong, India, and Korea. Visit our web site at http://www.issi.com/.
Forward Looking Statements This news release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Statements concerning
enabling us to expand our product line, excellent growth
opportunity and the transaction being accretive to ISSI's financial
results by the December 2009 quarter are forward-looking statements
that involve risks and uncertainties that could cause actual
results to differ materially from those anticipated. Such risks and
uncertainties include our ability to successfully integrate the
acquisition in a timely and efficient manner, our ability to
maintain the customer, supplier, employee and other business
relationships of Enable Semiconductor, supply and demand conditions
in the market resulting from adverse conditions in the economy,
liquidity and credit concerns or other factors, unexpected
reductions in average selling prices for the acquired products, our
ability to sell the acquired products for the targeted applications
and the pricing and gross margins achieved on such sales, changes
in manufacturing yields, order cancellations, order rescheduling,
product warranty claims, competition, or other risks listed from
time to time in the Company's filings with the Securities and
Exchange Commission, including the Company's Form 10-K for the
period ended September 30, 2008 and our Quarterly Report on Form
10-Q for the period ended December 31, 2008. The Company assumes no
obligation to update or revise the forward-looking statements in
this release because of new information, future events, or
otherwise. DATASOURCE: Integrated Silicon Solution, Inc. CONTACT:
John M. Cobb, Chief Financial Officer, +1-408-969-6600, , or Sean
Long, Director of Marketing, +1-408-969-4622, , both of Integrated
Silicon Solution, Inc. Web Site: http://www.issi.com/
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