2ndRick
04-14-2011, 05:42 PM
In the past week, Silicon Image acquired SiBEAM, who are a leader in the wireless HD category.
A few points about Silicon Image...
- Silicon Image (along with Intel) was the driving force behind the creation of the DVI interface.
- Silicon Image (along with partners Sony, Toshiba, Thomson, Hitachi, Philips, and Panasonic) were the developers of the HDMI standard and all of it's variants.
So they ALREADY have the intellectual property of the hard-wired consumer digital video standards, and it looks like Silicon Image is tying up the intellectual property for the wireless transmission as well.
Silicon Image Signs Definitive Agreement to Acquire SiBEAM
60GHz Multi-Gigabit Wireless Technology Expands Silicon Image’s HD Connectivity Product Portfolio
SUNNYVALE, Calif., April 14, 2011 – Silicon Image, Inc. (NASDAQ: SIMG), a leader in advanced, interoperable HD connectivity solutions for consumer electronics, today announced the signing of a definitive agreement to acquire privately-held SiBEAM, Inc., a fabless semiconductor company headquartered in Sunnyvale, CA. SiBEAM is the leading provider of high-speed wireless communication products for uncompressed HD video in consumer electronics and personal computer applications, a founding member of the WirelessHD™ Consortium and an active member of the Wireless Gigabit Alliance (WiGig™).
The purchase price of the acquisition will be $25.5 million in cash and Silicon Image stock. The proposed transaction is expected to close in the second quarter of 2011. For 2011, the acquisition is anticipated to be dilutive to Silicon Image’s non-GAAP earnings by approximately $0.06 - $0.08 and neutral to earnings for 2012. The company intends to finalize its estimates of the transaction’s financial impact as well as the accounting for the transaction upon deal close.
“The acquisition of SiBEAM underscores our stated mission to be the leader in advanced video connectivity solutions and SiBEAM’s 60GHz wireless technology will enable us to rapidly bring the highest quality of wirelessly transmitted HD video and audio to market,” said Camillo Martino, chief executive officer of Silicon Image, Inc. “Silicon Image has a proven history of establishing successful global connectivity standards, including DVI®, HDMI®, and most recently MHL™ and we are looking forward to driving WirelessHD as a global connectivity standard and to delivering “standards plus” products supporting both wireless and wired HD connectivity standards.”
SiBEAM’s wireless technology has the ability to deliver true uncompressed, lossless high-definition digital video for a broad range of consumer electronics and personal computer applications. The company’s 60GHz Radio Frequency (RF) technology with multi-gigabit data rates offers the highest throughput of any mass market wireless solution available today and is compliant with both the WirelessHD and WiGig standards.
“Silicon Image's market leadership in developing and scaling consumer and PC solutions will help accelerate the growth of SiBEAM's 60GHz products,” said John LeMoncheck, president and chief executive officer at SiBEAM, Inc. "Increasingly, CE, PC, and mobile device manufacturers are looking towards 60GHz solutions for high-speed A/V and data connectivity. The combination of SiBEAM's wireless technology with Silicon Image's strength in HD connectivity solutions for mobile and consumer platforms makes this acquisition a natural fit for both companies.”
Consistent with its “standards plus” strategy, Silicon Image plans to continue to promote and actively engage with the WirelessHD Consortium and the WiGiG Alliance to further advance standards development for 60GHz wireless connectivity.
Until the deal closes, SiBEAM will continue independent operations.
About Silicon Image, Inc.
Silicon Image is a leading provider of advanced, interoperable connectivity solutions that enable the reliable distribution and presentation of high-definition (HD) content for consumer electronics, mobile, and PC markets. The company delivers its technology via semiconductor and intellectual property (IP) products that are compliant with global industry standards and also feature industry leading Silicon Image innovations such as InstaPort™. Silicon Image’s products are deployed by the world’s leading electronics manufacturers in devices such as desktop and notebook PCs, DTVs, Blu-Ray Disc™ players, audio-video receivers, as well as mobile phones, tablets and digital cameras. Silicon Image has driven the creation of the highly successful HDMI® and DVI™ industry standards, as well as the latest standards for mobile devices - SPMT™ (Serial Port Memory Technology) and MHL™ (Mobile High-Definition Link). Via its wholly-owned subsidiary, Simplay Labs, Silicon Image offers manufacturers comprehensive standards interoperability and compliance testing services. For more information, visit us at http://www.siliconimage.com/.
A few points about Silicon Image...
- Silicon Image (along with Intel) was the driving force behind the creation of the DVI interface.
- Silicon Image (along with partners Sony, Toshiba, Thomson, Hitachi, Philips, and Panasonic) were the developers of the HDMI standard and all of it's variants.
So they ALREADY have the intellectual property of the hard-wired consumer digital video standards, and it looks like Silicon Image is tying up the intellectual property for the wireless transmission as well.
Silicon Image Signs Definitive Agreement to Acquire SiBEAM
60GHz Multi-Gigabit Wireless Technology Expands Silicon Image’s HD Connectivity Product Portfolio
SUNNYVALE, Calif., April 14, 2011 – Silicon Image, Inc. (NASDAQ: SIMG), a leader in advanced, interoperable HD connectivity solutions for consumer electronics, today announced the signing of a definitive agreement to acquire privately-held SiBEAM, Inc., a fabless semiconductor company headquartered in Sunnyvale, CA. SiBEAM is the leading provider of high-speed wireless communication products for uncompressed HD video in consumer electronics and personal computer applications, a founding member of the WirelessHD™ Consortium and an active member of the Wireless Gigabit Alliance (WiGig™).
The purchase price of the acquisition will be $25.5 million in cash and Silicon Image stock. The proposed transaction is expected to close in the second quarter of 2011. For 2011, the acquisition is anticipated to be dilutive to Silicon Image’s non-GAAP earnings by approximately $0.06 - $0.08 and neutral to earnings for 2012. The company intends to finalize its estimates of the transaction’s financial impact as well as the accounting for the transaction upon deal close.
“The acquisition of SiBEAM underscores our stated mission to be the leader in advanced video connectivity solutions and SiBEAM’s 60GHz wireless technology will enable us to rapidly bring the highest quality of wirelessly transmitted HD video and audio to market,” said Camillo Martino, chief executive officer of Silicon Image, Inc. “Silicon Image has a proven history of establishing successful global connectivity standards, including DVI®, HDMI®, and most recently MHL™ and we are looking forward to driving WirelessHD as a global connectivity standard and to delivering “standards plus” products supporting both wireless and wired HD connectivity standards.”
SiBEAM’s wireless technology has the ability to deliver true uncompressed, lossless high-definition digital video for a broad range of consumer electronics and personal computer applications. The company’s 60GHz Radio Frequency (RF) technology with multi-gigabit data rates offers the highest throughput of any mass market wireless solution available today and is compliant with both the WirelessHD and WiGig standards.
“Silicon Image's market leadership in developing and scaling consumer and PC solutions will help accelerate the growth of SiBEAM's 60GHz products,” said John LeMoncheck, president and chief executive officer at SiBEAM, Inc. "Increasingly, CE, PC, and mobile device manufacturers are looking towards 60GHz solutions for high-speed A/V and data connectivity. The combination of SiBEAM's wireless technology with Silicon Image's strength in HD connectivity solutions for mobile and consumer platforms makes this acquisition a natural fit for both companies.”
Consistent with its “standards plus” strategy, Silicon Image plans to continue to promote and actively engage with the WirelessHD Consortium and the WiGiG Alliance to further advance standards development for 60GHz wireless connectivity.
Until the deal closes, SiBEAM will continue independent operations.
About Silicon Image, Inc.
Silicon Image is a leading provider of advanced, interoperable connectivity solutions that enable the reliable distribution and presentation of high-definition (HD) content for consumer electronics, mobile, and PC markets. The company delivers its technology via semiconductor and intellectual property (IP) products that are compliant with global industry standards and also feature industry leading Silicon Image innovations such as InstaPort™. Silicon Image’s products are deployed by the world’s leading electronics manufacturers in devices such as desktop and notebook PCs, DTVs, Blu-Ray Disc™ players, audio-video receivers, as well as mobile phones, tablets and digital cameras. Silicon Image has driven the creation of the highly successful HDMI® and DVI™ industry standards, as well as the latest standards for mobile devices - SPMT™ (Serial Port Memory Technology) and MHL™ (Mobile High-Definition Link). Via its wholly-owned subsidiary, Simplay Labs, Silicon Image offers manufacturers comprehensive standards interoperability and compliance testing services. For more information, visit us at http://www.siliconimage.com/.