Date: 29/05/2011

Skyworks acquires power supply IC maker Advanced Analogic Tech

Skyworks Solutions, Inc. has signed a definitive agreement to purchase Advanced Analogic Technologies Incorporated. This acquisition expands Skyworks' portfolio with power semiconductor devices such as battery chargers, DC/DC converters, voltage regulators and LED drivers. The analog power management market is expected to grow to $12.1 billion in 2014, up from $9.9 billion in 2010 according to Gartner market research.

"Skyworks' acquisition of Advanced Analogic Technologies will enable us to further capitalize on our strong smart phone, tablet, set-top box and infrastructure positions with an expanded and differentiated product portfolio while accelerating our entry into new vertical markets," said David J. Aldrich, president and chief executive officer of Skyworks. "At a higher level, analog power management semiconductors represent a strategic growth market for Skyworks as our customers increasingly demand both ubiquitous wireless connectivity and power optimization across seemingly every kind of electronic platform. With Advanced Analogic Technologies, Skyworks will be well positioned to address these massive twin market opportunities leveraging our broad customer relationships, innovative product portfolios and increasing operational scale."

"The Advanced Analogic Technologies team is excited to be joining forces with Skyworks given their leadership market positions coupled with scale advantages," said Richard K. Williams, president, chief executive officer and chief technical officer of Advanced Analogic Technologies. "Both companies share a common vision of the enormity and growth potential of the analog semiconductor market. Together, we can better address our customers' demand for highly integrated power management solutions across a broader range of markets and applications. We believe this transaction will benefit our customers, employees and, most importantly, our shareholders."

Skyworks has entered into a definitive agreement to acquire Advanced Analogic Technologies for a nominal price of $6.13 per share, representing a 52 percent premium to Advanced Analogic Technologies' 30-day trailing average. The $6.13 nominal share price consists of $3.68 per share in cash and .08725 of a share of Skyworks common stock for each outstanding share of Advanced Analogic Technologies common stock.