Silicon Labs (NASDAQ: SLAB), a leader in high-performance, analog-intensive, mixed-signal ICs, today announced it has completed the acquisition of Energy Micro AS. This strategic acquisition accelerates Silicon Labs’ growth opportunities and positions the company as the foremost innovator in energy-friendly embedded solutions for the Internet of Things, smart energy, home automation, security and portable electronics markets.
Based in Oslo, Norway, Energy Micro offers the industry’s most energy-efficient portfolio of 32-bit microcontrollers (MCUs) based on the industry-leading ARM® Cortex™-M architecture and is developing multi-protocol wireless RF solutions also based on ARM architecture. Energy Micro’s ultra-low-power portfolio complements Silicon Labs’ existing 32-bit Precision32™ mixed-signal MCUs and sub-GHz and ZigBee® wireless RF products and targets a rapidly growing embedded market. The acquisition greatly expands Silicon Labs’ 32-bit MCU and wireless SoC portfolio, adding nearly 250 energy-friendly MCUs and new low-power wireless protocols such as Bluetooth LE.
Under the agreement, the shareholders of Energy Micro will receive an up-front payment of $115 million in cash, plus approximately $55 million in deferred and earn-out consideration. Energy Micro is expected to contribute approximately $7 million in revenue in the second half of 2013. Anticipated growth is expected to allow the transaction to be accretive on a non-GAAP basis by the end of 2014.
About Silicon LabsSilicon Labs is an industry leader in the innovation of high-performance, analog-intensive, mixed-signal ICs. Developed by a world-class engineering team with unsurpassed expertise in mixed-signal design, Silicon Labs’ diverse portfolio of patented semiconductor solutions offers customers significant advantages in performance, size and power consumption. For more information about Silicon Labs, please visit www.silabs.com. Cautionary Language This press release contains forward-looking statements based on Silicon Labs’ current expectations. The words “believe,” “estimate,” “expect,” “intend,” “anticipate,” “plan,” “project,” “will,” “expanding,” “growing,” and similar phrases as they relate to Silicon Labs or Energy Micro are intended to identify such forward-looking statements. These forward-looking statements reflect the current views and assumptions of Silicon Labs and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are the following: risks related to the successful completion of the development and implementation of Energy Micro’s technology, risks that the acquisition may not yield the expected benefits due to the failure to properly integrate the acquired business and employees; risks that the acquired business’ products and processes under development may fail to achieve market acceptance; risks of disputes regarding the acquired business and intellectual property; risks that the performance of Silicon Labs’ existing business may not offset the dilutive effects of the acquisition; risks associated with the competitive and cyclical nature of the semiconductor industry and other factors that are detailed in Silicon Labs’ filings with the SEC. Silicon Labs disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.