Alpha and Conexant's Wireless Business Complete Merger; Skyworks Commences Operations as an Independent Company.Business Editors Skyworks Becomes an Industry Leading Wireless Semiconductor Company for Mobile Communications Alpha Industries Alpha Industries is a clothing manufacturer founded in 1959 in Knoxville, Tennessee. The company makes items such as flight jackets and vests, and has made jackets for the military of the United States like the M65 Jacket. Two models are the MA-1 and CWU-45/P pilot jackets. , Inc. (Nasdaq: AHAA AHAA Association of Hispanic Advertising Agencies AHAA American Hearing Aid Associates AHAA Adolescent Health and Academic Achievement Study ) and Conexant Systems, Inc. (Nasdaq: CNXT) today announced that the merger of Alpha and Conexant's wireless business to create Skyworks Solutions  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . , Inc. has been completed. The new company's common stock will begin trading today on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "SWKS." Skyworks begins operations as the industry's leading wireless semiconductor company focused on radio frequency (RF) and complete semiconductor system solutions for mobile communications applications. Skyworks has an established leadership position in such critical product areas as RF switches and power amplifiers Power amplifier The final stage in multistage amplifiers, such as audio amplifiers and radio transmitters, designed to deliver appreciable power to the load. modules. In addition, the company is uniquely positioned to drive the evolution of RF integration for all major air interfaces, including code division multiple access (CDMA (Code Division Multiple Access) A method for transmitting simultaneous signals over a shared portion of the spectrum. The foremost application of CDMA is the digital cellular phone technology from QUALCOMM that operates in the 800 MHz band and 1.9 GHz PCS band. ) and global system for mobile communications (communications) Global System for Mobile Communications - (GSM, originally "Groupe de travail Sp?ciale pour les services Mobiles") One of the major standards for digital cellular communications, in use in over 60 countries and serving over one billion subscribers. (GSM (Global System for Mobile Communications) A digital cellular phone technology based on TDMA that is the predominant system in Europe, but also used worldwide. Developed in the 1980s, GSM was first deployed in seven European countries in 1992. ), as well as complete semiconductor and software solutions for advanced 2.5G and 3G applications. "We are simply delighted to launch Skyworks today -- a leader in mobile communications semiconductors," said David J David J. Haskins (b. April 24, 1957, in Northampton, England) is a British alternative rock musician. He was the bassist for the seminal gothic rock band Bauhaus. Life and work . Aldrich, Skyworks' president and chief executive officer. "Our product breadth, technologies, manufacturing strength, and customer relationships make us an ideal partner for today's handset The part of the telephone that contains the speaker and the microphone. On a desktop phone, the part you hold in your hand is the handset. On a cellphone, the entire phone is the handset. See multihandset cordless and headset. and base station manufacturers. This advantage translates into faster time-to-market, lower cost and smaller more feature-rich products for consumers." "With a winning combination of critical technologies and products, Skyworks begins life today with a very promising future," said Dwight W. Decker, Skyworks' chairman of the board, and chairman and chief executive officer of Conexant. "Skyworks' leadership position in front-end modules, RF subsystems and complete cellular solutions enables the company to deliver best-in-class components and systems to all of the industry's key handset and base station manufacturers." Skyworks will employ approximately 3,850 people worldwide, including approximately 1,900 located at the company's semiconductor assembly, module manufacturing and test operation in Mexicali, Mexico. The company has design, engineering, manufacturing, marketing, sales and service facilities throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, Japan and Asia Pacific. Restructured Mexicali Note Skyworks has purchased Conexant's semiconductor assembly, module manufacturing and test facility, located in Mexicali, Mexico, for $150 million through a secured promissory note promissory note, unconditional written promise to pay a certain sum of money at a definite time to bearer or to a specified person on his order. Promissory notes are generally used as evidence of debt. payable 50 percent in nine months and 50 percent in twelve months. In addition, Skyworks will have a line of credit for one year of up to $100 million to cover working capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. . "With the financing, Skyworks now has considerably more financial flexibility going forward," said Aldrich. Facts About Skyworks General Facts: -- Front-end Modules: Skyworks is the market leader in delivering switching solutions and power amplifier modules in GaAs PHEMT and HBT. -- RF Subsystems: Skyworks has developed the world's most highly integrated direct conversion radio (DCR) enabling full transmit and receive chain functionality in a single package. -- Cellular Systems: Skyworks offers the industry's most comprehensive 2.5G GSM/General Packet Radio Service (GSM/GPRS) solution, including the complete RF subsystem, baseband processor as well as protocol stack and user interface software, plus complete reference designs and development platforms. -- Infrastructure Products: Skyworks leverages its integrated RF product and technology capabilities across strong base station channel relationships. Senior Management: -- Front-end Modules: Skyworks is the market leader in delivering switching solutions and power amplifier modules in GaAs PHEMT and HBT. -- RF Subsystems: Skyworks has developed the world's most highly integrated direct conversion radio (DCR) enabling full transmit and receive chain functionality in a single package. -- Cellular Systems: Skyworks offers the industry's most comprehensive 2.5G GSM/General Packet Radio Service (GSM/GPRS) solution, including the complete RF subsystem, baseband processor as well as protocol stack and user interface software, plus complete reference designs and development platforms. -- Infrastructure Products: Skyworks leverages its integrated RF product and technology capabilities across strong base station channel relationships. Manufacturing Locations: -- Front-end Modules: Skyworks is the market leader in delivering switching solutions and power amplifier modules in GaAs PHEMT and HBT. -- RF Subsystems: Skyworks has developed the world's most highly integrated direct conversion radio (DCR) enabling full transmit and receive chain functionality in a single package. -- Cellular Systems: Skyworks offers the industry's most comprehensive 2.5G GSM/General Packet Radio Service (GSM/GPRS) solution, including the complete RF subsystem, baseband processor as well as protocol stack and user interface software, plus complete reference designs and development platforms. -- Infrastructure Products: Skyworks leverages its integrated RF product and technology capabilities across strong base station channel relationships. Key Product Areas: -- Front-end Modules: Skyworks is the market leader in delivering switching solutions and power amplifier modules in GaAs PHEMT and HBT. -- RF Subsystems: Skyworks has developed the world's most highly integrated direct conversion radio (DCR) enabling full transmit and receive chain functionality in a single package. -- Cellular Systems: Skyworks offers the industry's most comprehensive 2.5G GSM/General Packet Radio Service (GSM/GPRS) solution, including the complete RF subsystem, baseband processor as well as protocol stack and user interface software, plus complete reference designs and development platforms. -- Infrastructure Products: Skyworks leverages its integrated RF product and technology capabilities across strong base station channel relationships. About Skyworks Skyworks Solutions, Inc. (Nasdaq: SWKS) is the industry's leading wireless semiconductor company focused on radio frequency (RF) and complete semiconductor system solutions for mobile communications applications. The company began operations in June 2002, following the completion of the merger between Alpha Industries, Inc. and Conexant Systems, Inc.'s wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. business. Skyworks is focused on providing front-end modules, RF subsystems and complete system solutions to wireless handset and infrastructure customers worldwide. Skyworks is headquartered in Woburn, Mass., with executive offices in Newport Beach Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif. The company has design, engineering, manufacturing, marketing, sales and service facilities throughout North America, Europe, Japan and Asia Pacific. For more information please visit www.skyworksinc.com. About Conexant Conexant Systems, Inc. is a worldwide leader in semiconductor system solutions for communications applications. Conexant leverages its expertise in mixed-signal processing to deliver integrated systems and semiconductor products through three separate businesses that address the wireless communications, broadband access See broadband and wireless broadband. and Internet infrastructure markets. Conexant's wireless communications business is focused on providing power amplifiers, radio-frequency subsystems and complete systems solutions. The broadband access business develops and delivers integrated solutions that enable digital entertainment and information networks for the home and small office. Mindspeed Technologies, the company's Internet infrastructure business, designs, develops and sells a complete portfolio of semiconductor networking solutions that facilitate the aggregation, transmission and switching of data, video and voice from the edge of the Internet to linked metropolitan area networks and long-haul networks. Conexant, headquartered in Newport Beach, Calif., delivered revenues of $1.1 billion for fiscal 2001. The company is a member of the Nasdaq-100 index. To learn more, visit us at www.conexant.com or www.mindspeed.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This news release includes "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements include information relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc future results of Skyworks (including certain projections and business trends). All such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected, and may affect our future operating results, financial position and cash flows. These risks and uncertainties include, but are not limited to: global economic and market conditions, such as the cyclical cyclical Of or relating to a variable, such as housing starts, car sales, or the price of a certain stock, that is subject to regular or irregular up-and-down movements. nature of the wireless communications semiconductor industry and the markets addressed by the company's and its customers' products; demand for and market acceptance of new and existing products; the ability to develop, manufacture and market innovative products in a rapidly changing technological environment; the ability to compete with products and prices in an intensely competitive industry; product obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. ; losses or curtailments of purchases from key customers or the timing of customer inventory adjustments; the timing of new product introductions; the availability and extent of utilization of raw materials, critical manufacturing equipment and manufacturing capacity; pricing pressures and other competitive factors; changes in product mix; fluctuations in manufacturing yields; the ability to continue to grow and maintain an intellectual property portfolio and obtain needed licenses from third parties; the ability to attract and retain qualified personnel; labor relations of the company, its customers and suppliers; economic, social and political conditions in the countries in which Skyworks, its customers or its suppliers operate, including security risks, possible disruptions in transportation networks and fluctuations in foreign currency exchange rates; and the uncertainties of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , as well as other risks and uncertainties, including but not limited to those detailed from time to time in the company's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" , and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Skyworks and Skyworks Solutions are trademarks or registered trademarks of Skyworks Solutions, Inc. or its subsidiaries in the U.S. and in other countries. All other brands and names listed are trademarks of their respective companies. |
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