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San Jose, CA, 2005-04-19 - Pericom Semiconductor Corporation [Nasdaq National
Market: PSEM] a worldwide
preferred supplier of high-performance integrated circuits and SaRonix
frequency control products, today
announced that its board of directors has
approved an investment in AKER Technology Co., LTD, Taiwan. This privately
negotiated investment
of 400 million New Taiwan Dollars (approximately $12.6
million) is subject to final due diligence and execution of relevant purchase
agreements.
The investment is expected to be completed in July, 2005. When
completed, Pericom will hold approximately a 36.4% interest in AKER, making
Pericom AKER's largest shareholder. AKER is traded on the Taiwan OTC Exchange
(TWO) under the symbol AKTCF, Code 6174.
This
investment will allow Pericom to leverage its existing SaRonix frequency
control product line with AKER's low-cost manufacturing and product
development
capabilities.
Alex Hui, President and Chief Executive Officer of Pericom said, "We have had
a very successful working
relationship with AKER since our acquisition of SaRonix
in October 2003. We are very pleased to expand this collaboration and believe
that both
companies will benefit from the leveraging of our respective strengths."
Pericom Semiconductor Corporation (NASDAQ: PSEM) offers
customers worldwide the
industry's most complete silicon and quartz based solutions for the Computing,
Communications, and Industrial market
segments. Our broad portfolio of leading-edge
analog, digital, and mixed-signal integrated circuits and SaRonix frequency control
products are
essential in the timing, transferring, routing, and translating of
high-speed signals as required by today's ever-increasing speed and bandwidth
demanding applications. Company headquarters are in San Jose, California, with
design centers and sales offices located globally.
http://www.pericom.com
AKER, and its subsidiaries eCERA and AZER, are major crystal and frequency
control products manufacturing companies in Taiwan. AKER is the largest SMD
(Surface Mount Device) manufacturer in Taiwan with a
production capability of
12 million units per month, and is a major supplier to SaRonix.
This press release contains forward-looking
statements as defined under The
Securities Litigation Reform Act of 1995. Forward-looking statements in this
release include that the investment is
expected to be completed in July, 2005,
and that we will obtain benefit by leveraging our SaRonix frequency control product
line with AKER's
low-cost manufacturing and product development capabilities. The
company's actual results could differ materially from what is set forth in such
forward-looking statements due to a variety of risk factors, including unforeseen
complications that could prevent the investment from occurring at
all, or other
difficulties encountered after investing that could reduce or eliminate any perceived
benefit, or other factors that were not antedated.
All forward-looking statements
included in this document are made as of the date hereof, based on information
available to the company as of the
date hereof, and Pericom assumes no obligation
to update any forward-looking statements. Parties receiving this release are
encouraged to review
our annual report on Form 10-K/A for the year ended June 30,
2004 and, in particular, the risk factors sections of this filing. |
