SST Strengthens Its Embedded Flash Business With Acquisition of Emosyn
September 13 2004 - 3:05AM
PR Newswire (US)
SST Strengthens Its Embedded Flash Business With Acquisition of
Emosyn Acquisition Offers Emosyn Advanced Embedded Flash Technology
and Increased Access to Foundry Capacity SUNNYVALE, Calif., Sept.
13 /PRNewswire-FirstCall/ -- SST (Silicon Storage Technology, Inc.,
Nasdaq: SSTI), a leader in flash memory technology, today announced
it has acquired a majority ownership of privately held Emosyn LLC,
a fabless semiconductor manufacturer specializing in the design and
marketing of smart card ICs for SIM (subscriber identification
module) card applications. Under the terms of the agreement valued
at approximately $19 million, SST, through its subsidiary SST
International, will acquire 83.6 percent of Emosyn's assets, while
ATMI, Inc. (NASDAQ:ATMI), Emosyn's former parent company, will
retain 16.4 percent ownership of the company. The transaction
closed on September 10, 2004. Emosyn's approximately 40 employees,
headed by president Nicholas Wood, will form a subsidiary of SST
and will continue to operate as a separate entity, designing and
developing leading-edge ICs based on SST's SuperFlash technology
for the burgeoning smart card market. The subsidiary, incorporated
in the Cayman Islands, will continue to have an R&D center in
Silicon Valley, and marketing and application offices in the United
Kingdom and Singapore. "We are thrilled to partner with ATMI in
Emosyn, one of our long-time licensing partners," said Bing Yeh,
SST's president and chief executive officer. "We believe this
acquisition will help Emosyn leverage SST's many foundry
relationships and manufacturing operation infrastructure in order
to meet the rising demand for its products, as well as allow SST to
establish SuperFlash technology as the technology-of-choice in the
strategically important smart card market." "We have been working
with SST's technology for more than five years and we are very
excited about this acquisition and the opportunity it brings to
grow our business leveraging SST's volume manufacturing and
customer service experience," said Nicholas Wood, president of
Emosyn. "Emosyn's goal is to become the number one solutions
provider to the smart card market, and SST has the right resources
and relevant experience to help us succeed. We expect to realize a
number of benefits to our business including our wafer procurement,
IT and back-end operations by integrating them with SST's
sophisticated, state-of-the-art infrastructure." About Emosyn
Emosyn is a fabless semiconductor manufacturer of integrated
circuits that provide a high level of security for personal and
portable information, such as cell phones, National ID card schemes
and bank cards. The company's Theseus Platinum(TM) product line is
focused on secure transactions, with products aimed at the smart
card market. With a design center in Silicon Valley, California and
sales and marketing offices in Europe, Asia and the United States,
Emosyn has a worldwide presence. For further information, please
visit http://www.emosyn.com/. About SuperFlash Technology SST's
SuperFlash technology is a NOR type, split-gate cell architecture
which uses a reliable thick-oxide process with fewer manufacturing
steps resulting in a low-cost, nonvolatile memory solution with
excellent data retention and higher reliability. The split-gate NOR
SuperFlash architecture facilitates a simple and flexible design
suitable for high performance, high reliability, small or medium
sector size, in- or off-system programming and a variety of
densities, all in a single CMOS-compatible technology. About
Silicon Storage Technology, Inc. Headquartered in Sunnyvale,
California, SST designs, manufactures and markets a diversified
range of nonvolatile memory solutions, based on proprietary,
patented SuperFlash technology, for high volume applications in the
digital consumer, networking, wireless communications and Internet
computing markets. SST's product families include various densities
of high functionality flash memory components, flash mass storage
products and flash microcontrollers. SST also offers its SuperFlash
technology for embedded applications through its world-class
manufacturing partners and technology licensees including 1st
Silicon (Malaysia) Sdn. Bhd., Grace Semiconductor Manufacturing
Corporation (Grace), IBM, Motorola, Inc., National Semiconductor
Corporation, NEC Corporation, Oki Electric Industry Co. Ltd.,
Samsung Electronics Co. Ltd., SANYO Electric Co., Ltd., Seiko Epson
Corp., Shanghai Hua Hong NEC Electronics Co., Ltd., Taiwan
Semiconductor Manufacturing Co. Ltd. (TSMC), Toshiba Corporation,
Vanguard International Semiconductor Corporation, and Winbond
Electronics Corp. TSMC offers embedded SuperFlash under its
trademark Emb-FLASH. Further information on SST can be found on the
company's Web site at http://www.sst.com/. Forward-Looking
Statements Except for the historical information contained herein,
this news release contains forward-looking statements regarding
flash memory market conditions, the company's future financial
performance, the performance of new products and the company's
ability to bring new products to market that involve risks and
uncertainties. These risks may include timely development,
acceptance and pricing of new products, the terms and conditions
associated with licensees' royalty payments, the impact of
competitive products and pricing, and general economic conditions
as they affect the company's customers, as well as other risks
detailed from time to time in the company's SEC reports, including
the Annual Report on Form 10-K for the year ended December 31, 2003
and on Form 10-Q for the quarter ended March 31, and June 30, 2004.
For more information about SST and the company's comprehensive list
of product offerings, please call 1-888/SST-CHIP. Information can
also be requested via email to or through SST's Web site at
http://www.sst.com/. SST's head office is located at 1171 Sonora
Court, Sunnyvale, Calif.; telephone: 408/735-9110; fax:
408/735-9036. The SST logo and SuperFlash are registered trademarks
of Silicon Storage Technology, Inc. Emb-FLASH is a trademark of
TSMC. All other trademarks or registered trademarks are the
property of their respective holders. For More Information Contact:
Sohrab Kianian Sr. Director, Technology Licensing & Business
Development Silicon Storage Technology, Inc. 408/735-9110 Steve
Gabriel Porter Novelli 408/369-1500 x627 DATASOURCE: Silicon
Storage Technology, Inc. CONTACT: Sohrab Kianian, Sr. Director,
Technology Licensing & Business Development of Silicon Storage
Technology, Inc., +1-408-735-9110, ; or Steve Gabriel of Porter
Novelli, +1-408-369-1500, ext. 627, , for Silicon Storage
Technology, Inc. Web site: http://www.sst.com/
http://www.emosyn.com/
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