MILPITAS, Calif., Nov. 24, 2015 /PRNewswire/ -- Integrated
Silicon Solution, Inc. (Nasdaq: ISSI) announced today that the
applicable regulatory authorities in Taiwan have approved the restructuring
of ISSI's operations in Taiwan as
required by the merger agreement between ISSI and Uphill Investment
Co. (the "Merger Agreement"). The transaction also received
approval from the National Development and Reform Commission (NDRC)
of the People's Republic of China. The closing of the Uphill
transaction remains subject to customary approvals from the
Ministry of Commerce People's Republic of China (MOFCOM) and the
State Administration of Foreign Exchange of the People's Republic of China (SAFE), and to
the other conditions provided in the Merger
Agreement.
ISSI and Uphill expect that the closing of the acquisition will
occur on or prior to December 10,
2015.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. The statement regarding that the closing of the acquisition
will occur on or prior to December 10,
2015 is a forward-looking statement that involves risks and
uncertainties that could cause actual results to differ materially
from those anticipated. Such risks and uncertainties include the
timing and ability to obtain regulatory approval from MOFCOM and
SAFE, the satisfaction of the other closing conditions in the
Merger Agreement, the outcome of any future litigation involving
the acquisition transaction or other risks listed from time to time
in ISSI's filings with the SEC, including ISSI's Form 10-K for the
year ended September 30, 2014 and Form 10-Q for the quarter
ended June 30, 2015. ISSI assumes no
obligation to update or revise the forward-looking statements in
this press release because of new information, future events, or
otherwise.
About ISSI
ISSI is a fabless semiconductor company that designs and markets
high performance integrated circuits for the following key markets:
(i) automotive, (ii) communications,
(iii) industrial, and (iv) digital consumer. ISSI's
primary products are high speed and low power SRAM and low, and
medium and high density DRAM. ISSI also designs and markets NOR
flash products and high performance analog and mixed signal
integrated circuits. ISSI is headquartered in Silicon Valley with
worldwide offices in Taiwan,
Japan, Singapore, China, Europe, Hong
Kong, India, and Korea.
Visit ISSI's web site at www.issi.com.
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SOURCE Integrated Silicon Solution, Inc.