Sierra Wireless Securityholders Approve Acquisition by Semtech Corporation
27 Septiembre 2022 - 6:36PM
Business Wire
Semtech Corporation (Nasdaq: SMTC), a leading global supplier of
high performance analog and mixed-signal semiconductors and
advanced algorithms, confirmed today that the securityholders of
Sierra Wireless, Inc. (Nasdaq: SWIR) (TSX: SW) (“Sierra Wireless”)
have approved the acquisition (the “Acquisition”) of all of the
outstanding shares of Sierra Wireless by 13548597 Canada Inc., a
wholly-owned subsidiary of Semtech Corporation (the “Company”) by
way of a statutory plan of arrangement (the “Arrangement”) at the
special meeting of Securityholders held today.
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The Arrangement is subject to antitrust and competition
approvals in the U.S. and Canada, respectively, the approval of the
Supreme Court of British Columbia (the “Court”) and other customary
closing conditions. The Court hearing for the final order to
approve the Arrangement is scheduled to take place on September 29,
2022, and the completion of the Arrangement is expected to occur in
the Company’s fiscal year 2023.
About Semtech
Semtech Corporation is a leading global supplier of high
performance analog and mixed-signal semiconductors and advanced
algorithms for infrastructure, high-end consumer and industrial
equipment. Products are designed to benefit the engineering
community as well as the global community. The Company is dedicated
to reducing the impact it, and its products, have on the
environment. Internal green programs seek to reduce waste through
material and manufacturing control, use of green technology and
designing for resource reduction. Publicly traded since 1967,
Semtech is listed on the Nasdaq Global Select Market under the
symbol SMTC. For more information, visit www.semtech.com.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking statements" within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, as amended, based on the
Company’s current expectations, estimates and projections about its
operations, industry, financial condition, performance, results of
operations, and liquidity. Forward-looking statements are
statements other than historical information or statements of
current condition and relate to matters such as future financial
performance, future operational performance, the anticipated impact
of specific items on future earnings, and the Company’s plans,
objectives and expectations. Statements containing words such as
"may," "believe," "anticipate," "expect," "intend," "plan,"
"project," "estimate," "should," "will," "designed to,"
"projections," or "business outlook," or other similar expressions
constitute forward-looking statements.
Forward-looking statements involve known and unknown risks and
uncertainties that could cause actual results and events to differ
materially from those projected. Potential factors that could cause
actual results to differ materially from those in the
forward-looking statements include, but are not limited to: the
failure to obtain regulatory approvals required for the closing of
the Acquisition, including the approval of the Supreme Court of
British Columbia; and the failure to satisfy the conditions to the
closing of the Acquisition; potential legal proceedings relating to
the Acquisition and the outcome of any such legal proceeding; the
occurrence of any event, change or other circumstances that could
give rise to the termination of the Arrangement; the risk that the
Acquisition will not be consummated within the expected time
period, or at all; and those factors set forth under "Risk Factors"
in the Company’s Annual Report on Form 10-K for the fiscal year
ended January 30, 2022 filed with the Securities and Exchange
Commission (the “SEC”) on March 16, 2022 and under “Risk Factors”
in the Company’s Quarterly Report on Form 10-Q filed with the SEC
on August 31, 2022, as such risk factors may be amended,
supplemented or superseded from time to time by other reports the
Company files with the SEC. In light of the significant risks and
uncertainties inherent in the forward-looking information included
herein that may cause actual performance and results to differ
materially from those predicted, any such forward-looking
information should not be regarded as representations or guarantees
by the Company of future performance or results, or that its
objectives or plans will be achieved, or that any of its operating
expectations or financial forecasts will be realized. Reported
results should not be considered an indication of future
performance. Investors are cautioned not to place undue reliance on
any forward-looking information contained herein, which reflect
management’s analysis only as of the date hereof. Except as
required by law, the Company assumes no obligation to publicly
release the results of any update or revision to any
forward-looking statement that may be made to reflect new
information, events or circumstances after the date hereof or to
reflect the occurrence of unanticipated or future events, or
otherwise.
SMTC-P
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version on businesswire.com: https://www.businesswire.com/news/home/20220927006065/en/
Anojja Shah VP, Investor Relations Semtech 630-390-6413 (M)
Anojja.Shah@semtech.com
Semtech (NASDAQ:SMTC)
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