Atmel Establishes Strong Position in Ultra-Low Power Wi-Fi Market With Agreement to Acquire Ozmo, Inc. Acquisition Positions Company to Enable Growth of "The Internet of Things"
SAN JOSE, Calif., Dec. 19, 2012 /PRNewswire/ -- Atmel® Corporation (NASDAQ: ATML), a leader in microcontroller and touch technology solutions, today announced that it has entered into a definitive agreement to acquire Ozmo, Inc. ("Ozmo"), a leading provider of ultra-low power Wi-Fi solutions that will expand Atmel's wireless offerings and further enhance developers ability to design smart, connected devices, including devices targeted to "The Internet of Things."
Adding to Atmel's broad wireless portfolio, Ozmo brings innovative "Wi-Fi Direct" certified technologies that will accelerate seamless communication and connectivity across wireless personal area networks (WPANs). Designed for consumer electronics products requiring smaller form factors and longer battery life, including gaming peripherals, HD audio speakers, portable audio headsets, digital thermostats, appliances and CE remotes, Ozmo's Wi-Fi products and technology offer developers ultra-low power, cost-effective solutions for connecting fixed and portable peripheral devices with Wi-Fi platforms.
"This acquisition accelerates Atmel's strategy to provide complete solutions for products that will make possible The Internet of Things," said Steve Laub, Atmel's President and CEO. "As a leader in the Wi-Fi Direct segment, Ozmo's solutions are well positioned in this rapidly growing market. We look forward to supporting Ozmo's existing customers, expanding sales of their Wi-Fi Direct products through Atmel's global sales channel and marketing network, and integrating their IP with existing Atmel microcontrollers to introduce even more compelling products."
According to market research data, the overall wireless peripheral market is expected to reach 1 billion units by 2015 with Wi-Fi Direct as the fastest growing segment at over 100% CAGR through 2015.
Atmel expects the transaction to close by year end and to be accretive to Atmel's earnings in 2014.
Atmel Corporation (Nasdaq: ATML) is a worldwide leader in the design and manufacture of microcontrollers, capacitive touch solutions, advanced logic, mixed-signal, nonvolatile memory and radio frequency (RF) components. Leveraging one of the industry's broadest intellectual property (IP) technology portfolios, Atmel is able to provide the electronics industry with complete system solutions focused on industrial, consumer, communications, computing and automotive markets.
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Safe Harbor for Forward-Looking Statements
Information in this release regarding Atmel's forecasts, business outlook, expectations, and beliefs are forward-looking statements that involve risks and uncertainties. These statements may include comments about our future operating and financial performance, including our earnings outlook beyond 2012 and the progress we may achieve with the integration of Ozmo, Inc. into our business plans and strategies. All forward-looking statements included in this release are based upon information available to Atmel as of the date of this release, which may change. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include, without limitation, general economic conditions (including solvency issues affecting various European countries and uncertainties in the United States related to the so-called "fiscal cliff"), the cyclical nature of the semiconductor industry; the inability to realize anticipated benefits related to our acquisition of Ozmo, Inc., restructuring activities or other initiatives in a timely manner or at all; the impact of competitive products and pricing; disruption to our business caused by our increased dependence on outside foundries, industry and/or company overcapacity or under capacity, including capacity constraints of our independent assembly contractors, timely design acceptance by our customers, timely introduction of new products and technologies, industry wide shifts in supply and demand for semiconductor products; financial stability in foreign markets and the impact of foreign exchange rates; adverse changes in tax laws, unanticipated costs and expenses or the inability to identify expenses which can be eliminated; the market price or volatility of our common stock; compliance with U.S. and international laws and regulations by us and our distributors, our ability to protect intellectual property rights, litigation (including intellectual property litigation in which we may be involved or in which our customers may be involved, especially in the mobile device sector), the possible unfavorable results of legal proceedings, and other risks detailed from time to time in Atmel's SEC reports and filings, including our Form 10-K for the year ended December 31, 2011, filed on February 28, 2012, and our subsequent Form 10-Q reports. Atmel assumes no obligation and does not intend to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Peter Schuman, Director of Investor Relations
Sander Arts, Vice President of Corporate Marketing
SOURCE Atmel Corporation