Dainippon Screen Acquires Cypress’s Silicon Light Machines Subsidiary
Cypress to Integrate SLM’s Ovation Laser Navigation Sensor Business Into Its Consumer and Computation Division
SAN JOSE, Calif., and KYOTO, Japan, July 2008 - Cypress Semiconductor Corp. (NYSE: CY) and Dainippon Screen Manufacturing Co. Ltd. (DNS) of Kyoto, Japan (7735: Tokyo Stock Exchange) today announced that DNS has acquired Silicon Light Machines (SLM), a Cypress subsidiary.
The acquisition will make Silicon Light Machines a wholly owned subsidiary of DNS. Financial terms of the acquisition were not disclosed.
DNS is Silicon Light Machines’ largest Grating Light Valve™ (GLV™) customer. GLV technology, SLM’s flagship product, consists of a series of microscopic ribbons suspended above a silicon substrate that can be precisely tuned to diffract laser light in different ways. The Micro-Electro-Mechanical System (MEMS) solution is ideal for computer-to-plate (CTP) commercial printing and other imaging applications.
Acquired by Cypress in August 2000, SLM also developed a high-performance laser optical navigation sensor technology marketed under the name OvationONS™, which has become popular in high-end gaming, and other markets. The OvationONS product line is being integrated into Cypress’s core business.
“This transaction reflects our desire to divest businesses that are not optimally aligned with our mission to become a global programmable solutions leader,” said Cypress’s President and CEO, T.J. Rodgers. “The divestiture of SLM’s GLV business-the seventh such transaction in two years-will bring greater focus to our core business, while the integration of SLM’s optical laser navigation technology will enable us to expand our suite of programmable solutions serving the keyboard/mouse market.”
Masanari Tsuda, senior managing director and chief technology officer at DNS said SLM’s technology will play an important role in the company’s growing business. “Silicon Light Machines’ GLV technology has been an enabler for our leadership position in thermal CTP printing applications. Now that it is part of DNS, we will be looking to this group to produce products that will enable us to expand our imaging technology into other markets.”
Hal Zarem, CEO of SLM said, “SLM will transition from being a subsidiary of its main wafer supplier to becoming a subsidiary of its main customer. I’m pleased to be joining a forward-looking organization that is as committed to developing new products for new markets as Cypress has been.”
Zarem added, “SLM will continue to serve its existing customers and grow its business as an independent company under a new corporate umbrella.”
Statements herein that are not historical facts and that refer to Cypress or its subsidiaries’ plans and expectations for the future are forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. We use words such as “believe,” “expect,” “future,” “plan,” “intend” and similar expressions to identify such forward-looking statements that include, but are not limited to, statements regarding our plans to become the leader in programmable products and the effect of this transaction on the Company. Such statements reflect our current expectations, which are based on information and data available to our management as of the date of this release. Our actual results may differ materially due a variety of uncertainties and risk factors, including risks described in our filings, as well as SunPower’s filings, with the Securities and Exchange Commission. We assume no responsibility to update any such forward-looking statements.
Cypress and the Cypress logo, PSoC and EZ-USB are registered trademarks of Cypress Semiconductor Corporation. Programmable System-on-Chip, WirelessUSB and West Bridge are trademarks of Cypress Semiconductor Corp. GLV, Grating Light Valve and Silicon Light Machines are trademarks of Silicon Light Machines Corp. All other trademarks are the property of their respective owners
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