Skyworks and Panasonic Form Joint Venture for High Performance Filter Solutions
Skyworks Acquires Majority Interest and Expects Transaction to be Immediately Accretive to Margins and EPS;
Expected to Close Before the End of Fiscal 2014;
JV Complements Existing Strategic Filter Partnerships
"We believe this new venture leverages the core strengths of both
companies to better serve the high volume filter market and positions us
to substantially grow the business, benefiting our customers and
employees," said
"We are excited to be joining forces with Panasonic in bringing highly
innovative filters to the exploding mobile connectivity and Internet of
Things markets," said
About the Joint Venture with Panasonic
At closing,
For consideration,
Filter Market Drivers and Panasonic's Leadership
The insatiable demand for always-on connectivity and ever increasing user data demands have driven a proliferation of bands and the addition of 4G/LTE capabilities. In fact, 3GPP now has more than 45 sanctioned bands. This is significantly increasing the demand for filters and especially for high performance TC SAW filters which enable the dense packing of bands. The need for world class sensitivity and the increasing co-existence issues, due to simultaneous operation of GPS, WiFi, Bluetooth, and cellular radios necessitate the extremely high quality filtering enabled by Panasonic's technology.
Panasonic's high performance filter portfolio offers several demonstrable advantages including:
- Reduced size and weight
- Higher selectivity
- Excellent Q and low insertion loss
- Reliability and stability under harsh environments
- Lower distortion
- Field proven, high volume production
About Panasonic
Panasonic Corporation is a worldwide leader in the development and
engineering of electronic technologies and solutions for customers in
residential, non-residential, mobility and personal applications. Since
its founding in 1918, the company has expanded globally and now operates
over 500 consolidated companies worldwide, recording consolidated net
sales of
About
Headquartered in
Skyworks' Safe Harbor Statement
This news release includes "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation information relating to our ability to leverage the strengths of the joint venture combination to better serve the high volume filter market and position the joint venture to substantially grow new business, our ability to broaden our product breadth and integration capabilities and to deliver the world's highest performance, lowest cost and shortest cycle time solutions, our ability to offer a differentiated and expanded product roadmap, and whether the joint venture investment will be immediately accretive to our margins and earnings per share. 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. All such statements are subject to certain risks, uncertainties and other important factors that could cause actual results to differ materially and adversely from those projected, and may affect our future operating results, financial position and cash flows.
These risks, uncertainties and other important factors include, but are
not limited to: uncertainty regarding global economic and financial
market conditions; the susceptibility of the semiconductor industry and
the markets addressed by our, and our customers', products to economic
downturns; the timing, rescheduling or cancellation of significant
customer orders and our ability, as well as the ability of our
customers, to manage inventory; losses or curtailments of purchases or
payments from key customers, or the timing of customer inventory
adjustments; the availability and pricing of third party semiconductor
foundry, assembly and test capacity, raw materials and supplier
components; changes in laws, regulations and/or policies that could
adversely affect either (i) the economy and our customers' demand for
our products or (ii) the financial markets and our ability to raise
capital; our ability to develop, manufacture and market innovative
products in a highly price competitive and rapidly changing
technological environment; economic, social, military and geo-political
conditions in the countries in which we, our customers or our suppliers
operate, including security and health risks, possible disruptions in
transportation networks and fluctuations in foreign currency exchange
rates; fluctuations in our manufacturing yields due to our complex and
specialized manufacturing processes; delays or disruptions in production
due to equipment maintenance, repairs and/or upgrades; our reliance on
several key customers for a large percentage of our sales; fluctuations
in the manufacturing yields of our third party semiconductor foundries
and other problems or delays in the fabrication, assembly, testing or
delivery of our products; our ability to timely and accurately predict
market requirements and evolving industry standards, and to identify
opportunities in new markets; uncertainties of litigation, including
potential disputes over intellectual property infringement and rights,
as well as payments related to the licensing and/or sale of such rights;
our ability to rapidly develop new products and avoid product
obsolescence; 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; lengthy product
development cycles that impact the timing of new product introductions;
unfavorable changes in product mix; the quality of our products and any
remediation costs; shorter than expected product life cycles; problems
or delays that we may face in shifting our products to smaller geometry
process technologies and in achieving higher levels of design
integration; and our ability to continue to grow and maintain an
intellectual property portfolio and obtain needed licenses from third
parties, as well as other risks and uncertainties, including, but not
limited to, those detailed from time to time in our filings with the
The forward-looking statements contained in this news 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.
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