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Semtech Corporation : Semtech Announces Sale of Video Optical Module Product Line to Embrionix

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03/19/2013 | 09:10pm CEST

Allows Semtech to remain focused on core video semiconductor development

Semtech Corporation (Nasdaq: SMTC), a leading supplier of analog and mixed-signal semiconductors, today announced the sale of its video optical module (optical SFP) product line to Embrionix. Embrionix is the market leader in coaxial, converter and intelligent SFP solutions to the video industry and is the only optical SFP supplier focused on the broadcast video market.

Semtech is committed to delivering market leading, next generation semiconductor products for the broadcast video and high-definition surveillance industries. As part of this commitment, the Company has decided to divest a non-core portion of its video business, which is not material to Semtech's broadcast video revenue. Embrionix and Semtech believe this transaction will address customer needs more effectively by allowing each company to focus on its core strengths and maximize customer value.

This deal creates a strong collaboration between Embrionix and Semtech and sets the foundation for ongoing cooperation on future products. "We are excited to formalize our relationship with Embrionix, who will be a successful supplier to the SFP market with our VOM products," said Gary Beauchamp, Senior Vice President and General Manager, Gennum Product Group. Semtech selected Embrionix because of its focus on the broadcast video market and its expertise in the development, sales, and marketing of SFP module solutions.

"With the acquisition of Semtech's video optical SFP line, Embrionix is now a one-stop shop for video coaxial, fiber and converter SFP and advanced emSFP," said Renaud Lavoie, CEO of Embrionix.

In order to ensure continuity in supply and support for customers, Semtech will remain involved during a transition period.

Semtech continues to be a leader in developing products for the broadcast market and will be displaying exciting new technology at the NAB show in Las Vegas from April 8 - 11, 2013. Semtech will be located in the North Hall at booth N2116.

About Semtech

Semtech Corporation is a leading supplier of analog and mixed-signal semiconductors for high-end consumer, computing, communications and industrial equipment. Products are designed to benefit the engineering community as well as the global community. The company is dedicated to reducing the impact it, and its products, have on the environment. Internal green programs seek to reduce waste through material and manufacturing control, use of green technology and designing for resource reduction. Publicly traded since 1967, Semtech is listed on the NASDAQ Global Select Market under the symbol SMTC. For more information, visit http://www.semtech.com.

About Embrionix

Embrionix provides a new approach in the product interface market for broadcast manufacturers. Embrionix designs and builds innovative, advanced SMPTE VIDEO SFPs to close the gap between fiber optic deployments, coaxial deployments, and emerging technology deployments, such as HDMI, composite video, Ethernet, etc. By leveraging its core competencies in video broadcast, the company provides SFP modules (emSFP) with the highest level of flexibility to major broadcasters in the industry. The company is based in Laval, Canada and has global design, research and development, and sales offices located in Canada, California, United Kingdom and Japan. For more information on pricing and availability, please visit www.embrionix.com or contact us at [email protected].

Forward-Looking and Cautionary Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are statements other than historical information or statements of current condition and relate to matters such as future financial performance, future operational performance, the anticipated impact of specific items on future earnings, and our plans, objectives and expectations. These forward-looking statements are identified by the use of such terms and phrases as "intends," "goal," "estimate, "expect," "project," "plans," "anticipates," "should," "will," "designed to," "believe," and other similar expressions which generally identify forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results and events to differ materially from those projected. Important factors that could cause actual results to differ materially include, but are not limited to: the ability of both Semtech and Embrionix following the completion of the sale of the product line to achieve intended results in the respective areas of each company's core strengths; the level and extent of ongoing cooperation on future products between the two companies; the level and volume of business arising from any such ongoing cooperation; and the future growth of and market interest in the optical SFP markets. Additionally, forward-looking statements should be considered in conjunction with the cautionary statements contained in the "Risk Factors" section and elsewhere in the Company's Annual Report on Form 10-K for the fiscal year ended January 29, 2012, in the Company's other filings with the SEC, and in material incorporated therein by reference. In light of the significant uncertainties inherent in the forward-looking information included herein, any such forward-looking information should not be regarded as representations by the Company that its objectives or plans will be achieved or that any of its operating expectations or financial forecasts will be realized. Investors are cautioned not to place undue reliance on any forward-looking information contained herein. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Semtech, the Semtech logo and Gennum are marks of Semtech Corporation

Semtech Corporation
Linda Brewton, 805-480-2004
[email protected]

© Business Wire 2013
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