AnalogicTech Announces Response to Skyworks Latest Accusations
SANTA CLARA, Calif., Sept. 20, 2011 /PRNewswire via COMTEX/ -- Advanced Analogic
Technologies, Inc. (the "Company") (AATI) today announced its response to the
latest purported notice of breach made by Skyworks Solutions, Inc. (Skyworks) on
September 19, 2011. In its response, AnalogicTech noted that there was no basis
for Skyworks to claim a material adverse effect, and that Skyworks does not
purport that a material adverse effect has occurred. AnalogicTech further noted
that Skyworks notice was devoid of any specific facts as to the basis of its
claim of breach. AnalogicTech stated that the notice contained no facts
supporting the claim, because no such facts exist. AnalogicTech remains committed
to the completion of the transaction.
The Company cannot provide further commentary beyond the information that is in
the SEC filings and will continue to keep investors updated through appropriate
disclosures.
About Advanced Analogic Technologies, Inc.:
Advanced Analogic Technologies Incorporated (AATI), or AnalogicTech, develops
advanced semiconductor system solutions that play a key role in the continuing
evolution of feature-rich, energy efficient electronic devices. The company
focuses on addressing the application-specific power management needs of consumer
devices such as mobile handsets, digital cameras, tablets, notebooks, TV and LCD
displays as well as devices in a broad range of industrial, medical and telecom
applications. AATI also licenses device, process, package, and
application-related technologies. Headquartered in Silicon Valley, AATI has
design centers in Santa Clara and Shanghai, and Asia-based operations and
logistics. For more information, please visit analogictech.com.
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AnalogicTech Announces Developments Relating to its Pending Acquisition
SANTA CLARA, Calif., Sept. 16, 2011 /PRNewswire via COMTEX/ -- Advanced Analogic
Technologies, Inc. (the "Company") (AATI) today announced developments relating
to its pending acquisition by Skyworks Solutions, Inc. (Skyworks). As detailed in
the S-4 filing made by Skyworks on September 9, 2011, two meetings were scheduled
in an effort to resolve the matters in dispute between the two companies relating
to requested business and financial information, and access to an AnalogicTech
officer. These meetings took place on September 13, 2011 and September 15, 2011,
respectively. While AnalogicTech believes it had never been in breach of any of
its obligations under the merger agreement, to the extent Skyworks asserted there
was a breach of the merger agreement, the Company believes any such claimed
breach was cured by its actions in conjunction with these meetings.
The Company cannot provide further commentary beyond the information that is in
the SEC filings and will continue to keep investors updated through appropriate
disclosures. |
