IRVINE, Calif.--(BUSINESS WIRE)--Aug. 17, 2018--
Skyworks Solutions, Inc. (NASDAQ: SWKS), an innovator of high
performance analog semiconductors connecting people, places and things,
today closed its acquisition of Avnera Corporation, a leading developer
of Analog System on Chips (ASoCs). The companies entered into a
definitive agreement on August 3, 2018.
Per the terms of the agreement, Skyworks paid cash for the acquisition,
which was approved by the boards of directors of both Skyworks and
Avnera. Excluding any non-recurring acquisition-related charges and
amortization of intangibles, Skyworks expects the acquisition to be
immediately accretive to diluted earnings per share.
Skyworks Solutions, Inc. is empowering the wireless networking
revolution. Our highly innovative analog semiconductors are connecting
people, places and things spanning a number of new and previously
unimagined applications within the aerospace, automotive, broadband,
cellular infrastructure, connected home, industrial, medical, military,
smartphone, tablet and wearable markets.
Skyworks is a global company with engineering, marketing, operations,
sales and support facilities located throughout Asia, Europe and North
America and is a member of the S&P 500® and Nasdaq-100® market indices
(NASDAQ: SWKS). For more information, please visit Skyworks’ website at: www.skyworksinc.com.
Safe Harbor Statement
Any forward-looking statements contained in this press release are
intended to qualify for the safe harbor from liability established by
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements include without limitation information relating to future
events, results and expectations of Skyworks. Forward-looking statements
can often be identified by words such as "anticipates," "expects,"
"forecasts," "intends," "believes," "plans," "may," "will" or
"continue," and similar expressions and variations (or negatives) of
these words. Actual events and/or results may differ materially and
adversely from such forward-looking statements as a result of certain
risks and uncertainties including, but not limited to, our ability to
satisfy the closing conditions and close our acquisition of Avnera
Corporation; our ability to successfully integrate Avnera Corporation’s
operations; our ability to make certain investments and acquisitions,
integrate companies we acquire, and/or enter into strategic alliances;
changes in laws, regulations and/or policies that could adversely affect
our operations and financial results; our ability to continue to grow
and maintain an intellectual property portfolio and obtain needed
licenses from third parties; our ability to retain, recruit and hire key
executives, technical personnel and other employees in the positions and
numbers, with the experience and capabilities, and at the compensation
levels needed to implement our business and product plans; our ability
to obtain design wins from customers; our ability to timely and
accurately predict market requirements and evolving industry standards
and to identify opportunities in new markets; our ability to develop,
manufacture, and market innovative products and avoid product
obsolescence; our ability to compete in the marketplace and achieve
market acceptance of our products; the availability and pricing of
third-party semiconductor foundry, assembly and test capacity, raw
materials and supplier components; the quality of our products; and
other risks and uncertainties identified in the "Risk Factors" section
of Skyworks' most recent Annual Report on Form 10-K (and/or Quarterly
Report on Form 10-Q) as filed with the Securities and Exchange
Commission ("SEC"). Copies of Skyworks' SEC filings can be obtained,
free of charge, on Skyworks' website (www.skyworksinc.com)
or at the SEC's website (www.sec.gov).
Any forward-looking statements contained in this press release are made
only as of the date hereof, and we undertake no obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise.
Note to Editors: Skyworks and the Skyworks symbol are trademarks or
registered trademarks of Skyworks Solutions, Inc. or its subsidiaries in
the United States and other countries. Third-party brands and names are
for identification purposes only, and are the property of their
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Source: Skyworks Solutions, Inc.
Skyworks Solutions, Inc.