SANTA CLARA, Calif.,
Sept. 23, 2011 /PRNewswire/ --
Advanced Analogic Technologies, Inc. (the "Company" or
"AnalogicTech") (Nasdaq: AATI) today announced that it has filed a
Petition for Arbitration in the Delaware Chancery Court (the "Court") seeking
specific performance of the Company's merger agreement with
Skyworks Solutions, Inc. ("Skyworks") (Nasdaq: SWKS) and to order
Skyworks to close the transaction. AnalogicTech is seeking
declaratory judgment from the Court that (1) AnalogicTech has not
breached the merger agreement, (2) no "material adverse effect" has
occurred with respect to AnalogicTech, and (3) Skyworks has
breached its obligations under the merger agreement.
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In accordance with the rules of arbitration in the Delaware Chancery Court, the petition is filed
under seal and all proceedings will be confidential. As per
the terms of the merger agreement, the Company does not intend to
comment or provide information regarding this matter until the
arbitration process is concluded, unless required by law.
About Advanced Analogic Technologies, Inc.
Advanced Analogic Technologies Incorporated (AATI), or
AnalogicTech, develops advanced semiconductor system solutions that
play a key role in the continuing evolution of feature-rich, energy
efficient electronic devices. The company focuses on addressing the
application-specific power management needs of consumer devices
such as mobile handsets, digital cameras, tablets, notebooks, TV
and LCD displays as well as devices in a broad range of industrial,
medical and telecom applications. AATI also licenses device,
process, package, and application-related technologies.
Headquartered in Silicon Valley, AATI has design centers in
Santa Clara and Shanghai, and Asia-based operations and logistics. For more
information, please visit www.analogictech.com.
Additional Information and Where to Find It
Skyworks filed a Registration Statement on Form S-4 containing a
Preliminary Proxy Statement/Prospectus and other documents
concerning the proposed merger with the Securities and Exchange
Commission ("SEC") and also plans to file with the SEC a
Registration Statement on Form S-8 in connection with the
transaction and AATI plans to file with the SEC and mail to its
stockholders a definitive Proxy Statement/Prospectus in connection
with the transaction. The Registration Statements and the Proxy
Statement/Prospectus contain (or will contain when each becomes
available) important information about Skyworks, AATI, the
transaction and related matters. INVESTORS AND SECURITY HOLDERS ARE
URGED TO READ THE REGISTRATION STATEMENTS AND PROXY
STATEMENT/PROSPECTUS CAREFULLY WHEN EACH BECOMES AVAILABLE.
Investors and security holders may currently obtain a copy of the
Registration Statement on Form S-4 and Preliminary Proxy Statement/
Prospectus and will be able to obtain free copies of the
Registration Statements and the definitive Proxy
Statement/Prospectus (when each becomes available) and other
documents filed with the SEC by Skyworks and AATI through the
website maintained by the SEC at http://www.sec.gov. In addition,
investors and security holders may also obtain free copies of the
Registration Statements and Proxy Statement/Prospectus from
Skyworks by contacting Skyworks' Investor Relations at (949)
231-4700, or by accessing Skyworks' investor relations website at
http://www.skyworksinc.com; or from AATI by contacting AATI's
Investor Relations at The Blueshirt Group, Lisa Laukkanen, at (415) 217-4967 or by
accessing AATI's investor relations website at
http://www.analogictech.com.
Participants in the Solicitation
Skyworks and AATI, and their respective directors and executive
officers, may be deemed to be participants in the solicitation of
proxies in respect of the transactions contemplated by the merger
agreement. Information about the directors and executive officers
of Skyworks and AATI are set forth in Skyworks' and AATI's most
recent Form 10-K/A, which were filed with the SEC on January 31, 2011 and May
2, 2011, respectively, as well as Skyworks' proxy statement
dated, and filed with the SEC on, April 7,
2011. Investors may obtain additional information regarding
the interest of Skyworks and its directors and officers, and AATI
and its directors and executive officers in the proposed
transaction, by reading the Registration Statements and Proxy
Statement/Prospectus regarding the transaction when each becomes
available.
SOURCE Advanced Analogic Technologies, Inc.