HILLSBORO, Ore.--(BUSINESS WIRE)--October 29, 2013--
| TriQuint Acknowledges Receipt of Starboard Value Letter |
TriQuint Semiconductor, Inc. (NASDAQ: TQNT), a leading RF solutions supplier and technology innovator, has issued the following response to the letter received from Starboard Value LP dated October 29(th) , 2013.
TriQuint welcomes constructive input from all shareholders including Starboard Value LP. TriQuint's Board of Directors and management regularly review the business strategy and have taken meaningful steps to increase shareholder value including the sale of underutilized equipment, share buybacks, as well as the withdrawal from unattractive businesses over time. Given the investments that have been made over the past few years in premium filters combined with a comprehensive suite of complementary products, manufacturing technologies, and packaging options, TriQuint is uniquely positioned to address the current and future trends in the RF industry.
FACTS ABOUT TRIQUINT
Founded in 1985, TriQuint Semiconductor (NASDAQ: TQNT) is a leading global provider of innovative RF solutions and foundry services for the world's top communications, defense and aerospace companies. People and organizations around the world need real-time, all-the-time connections; TriQuint products help reduce the cost and increase the performance of connected mobile devices and the networks that deliver critical voice, data and video communications. With the industry's broadest technology portfolio, recognized R&D leadership, and expertise in high-volume manufacturing, TriQuint creates standard and custom products using gallium arsenide (GaAs), gallium nitride (GaN), surface acoustic wave (SAW) and bulk acoustic wave (BAW) technologies. The company has ISO9001-certified manufacturing facilities in the U.S., production in Costa Rica, and design centers in North America and Germany. For more information, visit www.triquint.com.
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CONTACT: TriQuint Semiconductor
VP of Finance & Administration, CFO
Steve Buhaly, +1-503-615-9401
Director, Investor Relations
Grant Brown, +1-503-615-9413