Silicon Motion Announces Sale of FCI to Dialog Semiconductor
March 07 2019 - 1:30AM
Silicon Motion Technology Corporation (NasdaqGS: SIMO) ("Silicon
Motion"), a global leader in designing and marketing NAND flash
controllers for solid state storage devices, today announced that
it has entered into a definitive agreement to sell FCI, its Mobile
Communications product line, to Dialog Semiconductor Plc.
“FCI recently began supplying ultra-low power Wi-Fi SoCs and
modules for both consumer IoT and industrial applications.
The product line also includes Mobile TV SoCs where FCI is the
clear global market leader, especially in Korea, Japan and Brazil,”
said Wallace Kou, President and CEO of Silicon Motion. “This
sale paves the way for us to focus even more in our core SSD
controllers and related solutions for client devices, as
well as data center and enterprise applications.”
The Board of Directors of both companies have given their
approval and the transaction is expected to complete during 2019,
subject to customary closing conditions, including regulatory
review and approval.
About Silicon Motion:
We are the global leader in supplying NAND flash
controllers for solid state storage devices and the merchant leader
in supplying SSD controllers. We have the broadest portfolio
of controller technologies and our controllers are widely used in
embedded storage products such as SSDs and eMMCs+UFS, which are
found in smartphones, PCs, commercial and industrial applications.
We have shipped over six billion NAND controllers in the last ten
years, more than any other company in the world. We also
supply specialized high-performance hyperscale data center and
industrial SSD solutions. Our customers include most of the
NAND flash vendors, storage device module makers, and leading
OEMs. For further information on Silicon Motion, visit us at
www.siliconmotion.com.
Forward-Looking Statements:
This press release contains "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Forward-looking statements include, without
limitation, statements regarding trends in the semiconductor or
consumer electronics markets and our future results of operations,
financial condition and business prospects. Although such
statements are based on our own information and information from
other sources we believe to be reliable, you should not place undue
reliance on them. These statements involve risks and
uncertainties, and actual market trends or our actual results of
operations, financial condition or business prospects may differ
materially from those expressed or implied in these forward looking
statements for a variety of reasons. Potential risks and
uncertainties include, but are not limited to the unpredictable
volume and timing of customer orders, which are not fixed by
contract but vary on a purchase order basis; the loss of one or
more key customers or the significant reduction, postponement,
rescheduling or cancellation of orders from these customers;
general economic conditions or conditions in the semiconductor or
consumer electronics markets; the effects on our business and our
customer’s business taking into account the ongoing US-China
tariffs and trade disputes; decreases in the overall average
selling prices of our products; changes in the relative sales mix
of our products; changes in our cost of finished goods; the
payment, or non-payment, of cash dividends in the future at the
discretion of our board of directors and any announced planned
increases in such dividends; changes in our cost of finished goods;
the availability, pricing, and timeliness of delivery of other
components and raw materials used in our customers’ products; our
customers’ sales outlook, purchasing patterns, and inventory
adjustments based on consumer demands and general economic
conditions; any potential impairment charges that may be incurred
related to businesses previously acquired or divested in the
future; our ability to successfully develop, introduce, and sell
new or enhanced products in a timely manner; and the timing of new
product announcements or introductions by us or by our competitors.
For additional discussion of these risks and uncertainties and
other factors, please see the documents we file from time to time
with the Securities and Exchange Commission, including our Annual
Report on Form 20-F filed on April 30, 2018. We assume no
obligation to update any forward-looking statements, which apply
only as of the date of this press release.
Investor Contact: Selina Hsieh Investor
Relations E-mail: ir@siliconmotion.com
Media Contact: Sara Hsu Project Manager E-mail:
sara.hsu@siliconmotion.com
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