Cypress Enters Into a Joint Venture With SK hynix system ic for NAND Flash Business
Sharpens Cypress’ Focus on Connect, Compute and Store Solutions in Automotive, Industrial and IoT Markets while Providing Continued Support to NAND Customers
“This joint venture provides a path to a continued and stable supply to customers longer term,” said
Cypress will transfer its full portfolio of SLC NAND Flash memories to the joint venture. The 1Gb to 16Gb devices provide reliable data storage for communications, consumer, automotive and industrial applications. The products are available in compact packages to fit in small form factors, and they meet stringent quality standards, including AEC-Q100 automotive-grade quality.
The implementation and launch of the joint venture is expected to take place in the first quarter of 2019, subject to applicable regulatory approvals having been obtained (including the expiration or termination of the applicable waiting periods) and other customary closing conditions.
Cypress is a leader in advanced embedded solutions for the world’s most innovative automotive, industrial, smart home appliances, consumer electronics and medical products. Cypress’ microcontrollers, wireless and USB-based connectivity solutions, analog ICs and reliable, high-performance memories help engineers design differentiated products and get them to market first. Cypress is committed to providing customers with the best support and development resources on the planet enabling them to disrupt markets by creating new product categories. To learn more, go to www.cypress.com.
Statements herein that are not historical facts and that refer to Cypress or its subsidiaries’ (or the joint venture’s) plans and expectations for the future are forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. We may use words such as “may,” “should,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “future,” “continue” or other wording indicating future results or expectations to identify such forward-looking statements that include, but are not limited to, statements related to: the future financial and operational performance of the joint venture; the effective date of the implementation and launch of the joint venture; the ability of the joint venture to supply customers with a continued and stable supply of products; and the ability of the joint venture to make continued investment in NAND products. Such statements reflect our current expectations, which are based on information and data available to our management as of the date of this press release. Our actual results (and the results of the joint venture) may differ materially due to a variety of risks and uncertainties, including, but not limited to: the uncertainty of regulatory review; our ability to execute on our Cypress 3.0 strategy; global economic and market conditions; business conditions and growth trends in the semiconductor market; the ability of the joint venture to compete effectively; the volatility in supply and demand conditions for semiconductor products, including but not limited to, the impact of seasonality on supply and demand; the ability of the joint venture to develop, introduce and sell new products and technologies; potential problems relating to manufacturing activities; and other risks and uncertainties described in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections in our most recent Annual Report on Form 10-K and our other filings with the
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Cypress Semiconductor Corp.
Ann Minooka, 408-456-1962
Vice President, Corporate Communications