CYPRESS, Calif.--(BUSINESS WIRE)--Feb. 19, 2009--
Universal Electronics Inc. (UEI) (NASDAQ: UEIC) purchased universal
remote control software and other intellectual property and related
assets and personnel from Zilog Inc. (NASDAQ: ZILG).
UEI has acquired certain of Zilog’s patents and other intellectual
property and assets related to its universal remote control business,
including Zilog’s full library and database of infrared codes, and
software tools. In addition, UEI has hired Dr. Norman Sheridan, Zilog’s
Executive Vice President of Technology and Operations and CTO and other
business, sales and engineering personnel, including all of Zilog’s
personnel located in India. In a related transaction, Maxim Integrated
Products (NASDAQ: MXIM) acquired two of Zilog’s product lines, namely,
the hardware portion of Zilog’s wireless control business and Zilog’s
secured transaction product line.
Paul Arling, UEI's Chairman and CEO, stated, “This acquisition will
expand the breadth and depth of our customer base in both subscription
broadcasting and original equipment manufacturing, particularly in Asia.
Through additional patents and software, we have further strengthened
our leadership position as a provider of wireless control solutions for
which our customers will see immediate benefits. Also, we expanded our
relationship with Maxim, a world-class and leading provider of high
performance semiconductor products. Maxim will bring new options to
UEI’s current array of diverse and powerful microcontrollers. We expect
this transaction to be mildly accretive in the first year and grow more
significantly in the long term.”
Arling continued, “We are extremely pleased to welcome Norm Sheridan and
the entire technical teams in India and San Jose dedicated to universal
remote control technology. These people, together with certain of
Zilog’s key sales and application specialists located in the US and
Asia, which we are also hiring, will be integrated into UEI’s existing
world-class staff of professionals, resulting in a combined force of
literally hundreds of years of experience in wireless control
technologies and applications.”
Safe Harbor Statement
This release contains statements concerning the potential benefits of
UEI’s acquisition of Zilog’s universal remote control software and other
intellectual property and related assets and personnel and of the
expanded relationship with Maxim. These forward-looking statements are
within the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These statements include, but are not limited to,
that the transaction will be accretive to earnings in 2009 and beyond
and that the acquisition assets from Zilog will allow UEI to further
leverage its expertise in wireless control technologies and solutions
and to grow its customer base in both subscription broadcasting and
original equipment manufacturing, particularly in Asia. These statements
are based on current expectations and are subject to certain risks,
uncertainties and assumptions, many of which are outside the control of
UEI. These risks and uncertainties include, but are not limited to:
changes in wireless control and semiconductor market conditions and
demand; technological and product development risks; the future
performance of the acquired technologies; the timing and success of
UEI’s integration of the patented and software technologies with UEI’s
existing technologies, including the successful transition of personnel
and technology development; the ability to realize anticipated synergies
with UEI’s existing businesses; the ability to realize the anticipated
benefits of intellectual property rights being acquired by UEI; the
ability to realize the anticipated benefits from our relationship with
Maxim; and general economic conditions; and other factors described in
the UEI's filings with the U.S. Securities and Exchange Commission. The
actual results that UEI achieves may differ materially from any forward
looking statement due to such risks and uncertainties. UEI undertakes no
obligations to revise or update any forward-looking statements in order
to reflect events or circumstances that may arise after the date of this
release.
About Universal Electronics Inc.
Founded in 1986, Universal Electronics Inc. (UEI) is the global leader
in wireless control technology for the connected home. UEI designs,
develops, and delivers innovative solutions that enable consumers to
control entertainment devices, digital media, and home systems. The
company’s broad portfolio of patented technologies and database of
infrared control software have been adopted by many Fortune 500
companies in the consumer electronics, subscription broadcast, and
computing industries. UEI sells and licenses wireless control products
through distributors and retailers under the One For All® brand name.
UEI also delivers complete home control solutions in the professional
custom installation market under the brand name Nevo®, as well as
software solutions for digital media control and enjoyment in the
consumer and OEM markets under the brand SimpleCenter™. For additional
information, visit our web site at www.uei.com.
About Zilog, Inc.
Zilog is a global supplier of application specific, embedded
system-on-chip (SoC) solutions for secured transactions, consumer
electronics and industrial application and an industry leader in remote
control and universal IR database solutions. From its roots as an
award-winning architect in the microprocessor and microcontroller
industry, Zilog has evolved to become a leader in production-ready and
custom-built SoC solution sets including hardware and software. Zilog is
headquartered in San Jose, California, with sales offices in Asia,
Europe, and North America. For more information about Zilog and its
products, visit http://www.zilog.com/.
About Maxim Integrated Products
Maxim Integrated Products is a publicly traded company that designs,
manufactures, and sells high-performance semiconductor products. The
company reported revenue in excess of $2 billion for fiscal 2008. Maxim
was founded over 25 years ago with the mission to deliver innovative
analog and mixed-signal engineering solutions that add value to its
customers' products. To date, it has developed over 5900 products
serving the industrial, communications, consumer, and computing markets.
For more information, go to www.maxim-ic.com.
Source: Universal Electronics Inc.
Universal Electronics Inc.
Paul Arling, 714-820-1000
or
Kirsten
Chapman (IR Agency), 415-433-3777
