Dainippon Screen Acquires Cypress’ Silicon Light Machines Subsidiary
Cypress to Integrate SLM’s Ovation Laser Navigation Sensor Business Into Its Consumer & Computation Division
SAN JOSE, Calif., and KYOTO, Japan, July 1, 2008 – Cypress Semiconductor Corp. (NYSE:CY) and Dainippon Screen Manufacturing Co. Ltd. (DNS) of Kyoto, Japan (7735: TokyoStock Exchange) today announced that DNS has acquired Silicon Light Machines (SLM), aCypress subsidiary.
The acquisition will make Silicon Light Machines a wholly owned subsidiary of DNS.Financial terms of the acquisition were not disclosed.
DNS is Silicon Light Machines’ largest Grating Light Valve™ (GLV™) customer. GLVtechnology, SLM’s flagship product, consists of a series of microscopic ribbons suspendedabove a silicon substrate that can be precisely tuned to diffract laser light in different ways. The Micro-Electro-Mechanical System (MEMS) solution is ideal for computer-to-plate (CTP)commercial printing and other imaging applications.
Acquired by Cypress in August 2000, SLM also developed a high-performance laser opticalnavigation sensor technology marketed under the name OvationONS™, which has becomepopular in high-end gaming, and other markets. The OvationONS product line is beingintegrated into Cypress’s core business.
“This transaction reflects our desire to divest businesses that are not optimally aligned withour mission to become a global programmable solutions leader,” said Cypress’s President andCEO, T.J. Rodgers. “The divestiture of SLM’s GLV business-the seventh such transaction intwo years-will bring greater focus to our core business, while the integration of SLM’s opticallaser navigation technology will enable us to expand our suite of programmable solutionsserving the keyboard/mouse market.”
Masanari Tsuda, senior managing director and chief technology officer at DNS said SLM’stechnology will play an important role in the company’s growing business. “Silicon LightMachines’ GLV technology has been an enabler for our leadership position in thermal CTPprinting applications. Now that it is part of DNS, we will be looking to this group to produceproducts that will enable us to expand our imaging technology into other markets.”
Hal Zarem, CEO of SLM said, “SLM will transition from being a subsidiary of its main wafersupplier to becoming a subsidiary of its main customer. I’m pleased to be joining a forwardlookingorganization that is as committed to developing new products for new markets asCypress has been.”
Zarem added, “SLM will continue to serve its existing customers and grow its business as anindependent company under a new corporate umbrella.”About Dainippon Screen Manufacturing Co. Ltd.
Dainippon Screen is a Top-10 supplier of semiconductor equipment, specializing in wafercleaning systems. Screen was established in 1943 and has expanded its operations based oncore technologies developed over the years. These technologies include image processing,transfer and exposure. Using these core technologies, it is developing its business in thefollowing areas. The semiconductor, flat panel display (FPD) and printed circuit board (PCB)production equipment businesses that form the core of information technology (IT) societies.The media technology business, which offers prepress equipment and print on-demandequipment. These businesses are contributing to the creation of an information-based societyby expanding modes of communication. visit: http://www.screen.co.jp/
About Silicon Light Machines
Founded in 1994, Silicon Light Machines (SLM) makes tiny silicon machines for handlinglight. SLM’s patented Grating Light Valve (GLV) technology is used to build opticalmicroelectromechanical systems, on silicon wafers. The company’s products are used in highenddisplays, commercial printing and other imaging applications. For more informationabout Silicon Light Machines, visit: https://www.siliconlight.com/
About Cypress
Cypress delivers high-performance, mixed-signal, programmable solutions that providecustomers with rapid time-to-market and exceptional system value. Cypress offerings includethe PSoC® Programmable System-on-Chip™, USB controllers, general-purposeprogrammable clocks and memories. Cypress also offers wired and wireless connectivitysolutions ranging from its WirelessUSB™ radio system-on-chip, to West Bridge™ and EZUSB® FX2LP controllers that enhance connectivity and performance in multimedia handsets.Cypress serves numerous markets including consumer, computation, data communications,automotive, industrial, and solar power. Cypress trades on the NYSE under the ticker symbolCY. http://www.cypress.com/
Contact:Florita Lomas
408-240-4734
Statements herein that are not historical facts and that refer to Cypress or its subsidiaries’ plans andexpectations for the future are forward-looking statements made pursuant to the Private Securities LitigationReform Act of 1995. We use words such as “believe,” “expect,” “future,” “plan,” “intend” and similar expressionsto identify such forward-looking statements that include, but are not limited to, statements regarding our plansto become the leader in programmable products and the effect of this transaction on the Company. Suchstatements reflect our current expectations, which are based on information and data available to ourmanagement as of the date of this release. Our actual results may differ materially due a variety of uncertaintiesand risk factors, including risks described in our filings, as well as SunPower’s filings, with the Securities andExchange Commission. We assume no responsibility to update any such forward-looking statements.Cypress and the Cypress logo, PSoC and EZ-USB are registered trademarks of Cypress SemiconductorCorporation. Programmable System-on-Chip, WirelessUSB and West Bridge are trademarks of CypressSemiconductor Corp. GLV, Grating Light Valve and Silicon Light Machines are trademarks of Silicon LightMachines Corp. All other trademarks are the property of their respective owners.