Simtek Comments on Schedule 13D/A Filed by Cypress Semiconductor Corporation
08 Février 2008 - 12:30PM
Business Wire
Simtek Corporation (NASDAQ:SMTK), the inventor, pioneer, and
world�s leading supplier of nonvolatile static random access memory
(nvSRAM) integrated circuits, today commented on the Schedule 13D/A
filed with the Securities and Exchange Commission, by Cypress
Semiconductor Corporation (�Cypress�), on February 6, 2008. The
Cypress filing stated, in part, that Cypress has contacted Simtek
representatives with the intent to explore a potential acquisition
of the Company. Harold A. Blomquist, Simtek's president and chief
executive officer stated, �Simtek has not been contemplating
selling the Company. However, in response to recent actions by
Cypress, we will consider all options. The Company intends to
engage an advisor to assist management and the Board with respect
to this and other strategic options in order to maximize long-term
value for shareholders.� Blomquist concluded, �We are prepared to
enter into more serious discussions with Cypress and other
potential strategic partners. The value of Simtek�s overall
business is a function of three elements: the Company�s core nvSRAM
business, new products being launched in 2008 at 4 megabit and
larger densities, and new high density nvRAMs being developed in
the Company�s San Diego design center, each of which has potential
for sustained and considerable growth.� About Simtek Corporation
Simtek Corporation designs and markets "NV + fast SRAM" nonvolatile
semiconductor memory products for use in a variety of systems
including RAID servers, storage arrays, GPS navigational systems,
industrial controllers, robotics, copiers, avionics, metering,
consumer, UPS, and networking and broadcast equipment. Information
on Simtek products can be obtained from its web site:
www.simtek.com; email: information@simtek.com. The company is
headquartered in Colorado Springs, Colorado. Forward-Looking
Statements This press release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements predicting Simtek's future growth.
These forward-looking statements are inherently difficult to
predict and involve risks and uncertainties that could cause actual
results to differ materially, including, but not limited to,
projections of future performance including predictions of future
profitability and expectations of the business environment in which
Simtek operates. For a detailed discussion of these and other risk
factors, please refer to Simtek's filings with the Securities and
Exchange Commission (SEC), including its Annual Report on Form 10-K
and subsequent Form 10-Q and Form 8-K filings.
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