Cypress Provides Update on Strategic Activities.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif. -- As previously disclosed, Cypress Semiconductor Cypress Semiconductor is a semiconductor design and manufacturing company. It began operations in 1982 and listed publicly in 1986. Two years later, the company shifted over to the New York Stock Exchange under the symbol, (NYSE: CY). Corp. (NYSE NYSE See: New York Stock Exchange :CY) has been reviewing a variety of strategic alternatives involving the Company and its investment in SunPower. These alternatives included a possible buyout of the Company. The Company's Board has now terminated its process of evaluating a possible buyout of the Company and determined that continuing with its standalone strategy at this time is in the best interests of its stockholders. Cypress will continue to explore ways in which to allow its stockholders to fully realize the value of Cypress and its investment in SunPower. About Cypress Cypress solutions perform: consumer, computation, data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. , automotive, industrial, and solar. Leveraging proprietary silicon processes, Cypress's product portfolio includes a broad selection of wired and wireless USB devices, CMOS image sensors, timing solutions, specialty memories, high-bandwidth synchronous and micropower memory products, optical solutions and reconfigurable mixed-signal arrays. Cypress trades on the NYSE 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 CY. Visit us at www.cypress.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: Statements made in this release that are not historical in nature and that refer to Cypress's plans and expectations for the future, including but not limited to Cypress's continued exploration of ways in which to allow its stockholders to fully realize the value of the SunPower Investment, are forward-looking statements made pursuant to 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. Actual events and results may differ materially from such statements due to a variety of factors, including but not limited to the fact that we may discontinue our exploration of ways in which to fully realize the value of the SunPower investment at any time and may not conclude a transaction as well as the risks identified in our filings with the Securities and Exchange Commission." All forward-looking statements included in this release are based upon information available to Cypress as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statement, except as required by applicable law. Cypress and the Cypress logo are registered trademarks of Cypress Semiconductor Corporation. All other trademarks are the property of their respective owners. |
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