NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Conexant Systems, Inc. (NASDAQ: CNXT), a leading supplier of innovative semiconductor solutions for imaging, audio, video, and Internet connectivity applications, today announced that it has signed an exclusive agreement with Analog Devices, Inc. (NYSE: ADI) to manufacture, distribute, and support ADI’s PC audio codec product line. Audio codecs encode and/or decode digital data streams, enabling users to listen to voice or music on a personal computer. ADI’s PC audiocodec solutions are targeted at desktop, notebook, and all-in-one PC applications, and are complementary to Conexant’s audio product portfolio. ADI’s PC audio engineering support team is now a part of Conexant’s Imaging and PC Media group, and will be based in the company’s facility in Waltham, Mass. Further terms of the transaction were not disclosed.
“This transaction is consistent with our strategy to augment our new-product investments with select acquisitions or additions in growth markets where we lead or have the opportunity to lead,” said Bernd Lienhard, senior vice president and general manager of Conexant’s Imaging and PC Media business. “The addition of ADI’s PC audio codec product line strengthens our position as a leading provider of audio solutions to PC manufacturers globally, and broadens our footprint within our existing customer base. We also gain an outstanding engineering team with a proven track record of providing superior customer service and support.”
Conexant’s innovative audio product portfolio includes high-definition (HD) audio integrated circuits, HD audio codecs, as well as speakers-on-a-chip solutions for personal computers, PC peripheral sound systems, speakers, notebook docking stations, voice-over-IP speakerphones, intercom, and audio-enabled surveillance applications.
About Conexant
Conexant’s comprehensive portfolio of innovative semiconductor solutions includes products for imaging, audio, video, and Internet connectivity applications. Conexant is a fabless semiconductor company that recorded revenues of more than $500 million in fiscal year 2008. The company is headquartered in Newport Beach, Calif. To learn more, please visit www.conexant.com
Safe Harbor Statement
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This 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 generally can be identified by phrases such as Conexant or its management “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of similar import. Similarly, statements in this release that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements.
These risks and uncertainties include, but are not limited to: pricing pressures and other competitive factors; our ability to timely develop and implement new technologies and to obtain protection for the related intellectual property; the cyclical nature of the semiconductor industry and the markets addressed by our products and our customers’ products; volatility in the technology sector and the semiconductor industry; our successful development of new products; the timing of our new product introductions and our product quality; demand for and market acceptance of our new and existing products; our ability to anticipate trends and develop products for which there will be market demand; our ability to successfully execute asset acquisitions, dispositions, mergers and restructurings; the availability of manufacturing capacity; changes in our product mix; product obsolescence; the ability of our customers to manage inventory; the risk that capital needed for our business and to repay our indebtedness will not be available when needed; the risk that the value of our common stock may be adversely affected by market volatility; the substantial losses we have incurred; the uncertainties of litigation, including claims of infringement of third-party intellectual property rights or demands that we license third-party technology, and the demands it may place on the time and attention of our management and the expense it may place on our company; our ability to identify and execute acquisitions, divestitures, mergers or restructurings, as deemed appropriate by management; general economic and political conditions and conditions in the markets we address; and possible disruptions in commerce related to terrorist activity or armed conflict, as well as other risks and uncertainties, including those detailed from time to time in our Securities and Exchange Commission filings.
The forward-looking statements are made only as of the date hereof. We undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Conexant is a registered trademark of Conexant Systems, Inc. Other brands and names contained in this release are the property of their respective owners.
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