July 3, 2003 - CML Microsystems Plc ("CML"), the UK-based semiconductor company, announces today that it has entered into an agreement to acquire Hyperstone AG ("Hyperstone"), a fabless semiconductor company headquartered in Germany.
CML Microsystems Plc is a UK-based holding company for six operating subsidiaries located in the UK, United States and Singapore. These subsidiaries are dedicated to the design, manufacture and world-wide marketing of semiconductor products, primarily for the global communications market, including wireless data, wireline telecommunications and two-way radio. Respected as innovators in mixed-signal, low-power devices, the group provides application specific standard products (ASSP's) for it's target markets worldwide.
The acquisition will enable CML to leverage its extensive routes to market and world-class low power analogue design skills to facilitate the growth of Hyperstone's product range and geographical market penetration. Equally, the addition of Hyperstone technology will open new product development opportunities for CML.
Commenting on the acquisition, Chris Gurry, CML's Business Development Director said: "For some time CML has been looking for an appropriate acquisition that will both expand and diversify our target markets whilst bringing complimentary technology to the Group. In Hyperstone we have found such a company and I look forward to exploiting the opportunities that the combined operations present".
Hyperstone, a fabless semiconductor company founded in 1990, is headquartered in Konstanz, Germany with a branch in Taipei, Taiwan. Hyperstone derives income from selling standard semiconductor products and from licensing its patented technology. Standard Products include microprocessors based upon Hyperstone's unified RISC/DSP architecture and microcontrollers for flash memory solutions. Target markets include digital imaging, flash memory cards, fingerprint recognition and communications.
Said Dr. Harald Westerholt, President & CEO, Hyperstone AG: "The management team and the original founders and previous major shareholders of Hyperstone have been looking for a strong, suitable partner company, which is not a large conglomerate and has a similar business model to Hyperstone. In CML we have found that.
We see a lot of benefits for our existing and future business partners by being part of CML Microsystems Plc. The synergies will help us to potentially introduce new products earlier than in the past because of CML's additional resources and excellent design capabilities. Both companies will be able to explore new ‘System On Chip' (SoC) designs that utilize their respective capabilities.
In addition, the strong financial background and size of CML will contribute to customer confidence in Hyperstone's long-term business activities. Overall, this will significantly help to unleash the company's full growth potential."
While Hyperstone will continue to operate under its own existing brand name, locations, management structure, and product roadmap, both companies will focus on jointly providing complete SoC platforms for further applications.
ENDS
For further information please visit the companies web sites:
http://www.cmlmicroplc.com
http://www.hyperstone.com
This press release may include estimates and forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and ability to distribute its products that could cause actual results achieved to differ from such forward-looking statements. Content is subject to change without prior notice. All Trademarks are the property of their respective owners. (HS-Mkt-AM-PR-005-03-07)
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