Harry and Intel Investors - <Intel and SMSC Technology Exchange Agreement>
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Thursday September 23, 9:10 am Eastern Time
Company Press Release
Intel and SMSC Technology Exchange Agreement
HAUPPAUGE, N.Y.--(BUSINESS WIRE)--September 23, 1999--Intel Corporation (NASDAQ: INTC - news) and Standard Microsystems Corporation (NASDAQ: SMSC - news) announced today that the companies have signed a new technology exchange agreement to expand their ongoing business relationship. The agreement should enable SMSC to accelerate its development of value-added chipset solutions which will support Intel microprocessors for personal computer (PC) and embedded applications. Under the agreement, SMSC will be developing application-specific chipset devices that are completely compatible with Intel's most advanced chipset interface technologies. As a result, SMSC will be able to offer its customers comprehensive chipset solutions.
''Up until today, SMSC's demonstrated ability to rapidly define, implement, and bring to market highly-integrated, application-specific semiconductor solutions for major personal computer manufacturers around the world has been mainly focused on the input/output area,'' said Paul Richman, Standard Microsystems Corporation's Chairman of the Board. ''Over the past few years, SMSC has acquired and developed substantial expertise in the area of core logic chipsets. Now, with the intellectual property transferred by Intel under this new technology agreement, SMSC will be able to apply these same skills to deliver advanced, higher-value, system-level chipset solutions which support and enhance the Intel technology roadmap.''
''This agreement extends a long-standing and productive business relationship between Standard Microsystems and Intel,'' said Paul Otellini, Executive Vice President and General Manager of the Intel Architecture Business Group. ''It is our view that the technology agreement will help grow the market for future Intel microprocessors.''
Intel and SMSC, indeed, have had a long-standing, mutually beneficial business relationship. In 1987, the two companies entered into an agreement providing for, among other things, a broad, worldwide, non-exclusive patent license between them, covering manufacturing processes and products, thereby enabling each company to have access to the other's current and future patent portfolios. In 1997, Intel and SMSC entered into additional agreements, under which they agreed to cooperate on the integration of new semiconductor input/output (I/O) circuits that would work with Intel's latest microprocessor and core logic chipsets and on the development of a family of new, low-pin-count I/O devices for future applications. In addition, as part of the 1997 agreements, Intel made a substantial equity investment in SMSC and is now one of SMSC's largest shareholders.
About Intel
Intel, the world's largest chip maker, is also a leading manufacturer of computer, networking and communications products. Additional information about Intel is available at www.intel.com/pressroom.
About SMSC
Standard Microsystems Corporation is a worldwide supplier of metal-oxide-semiconductor/very large scale integrated (MOS/VLSI) circuits for the personal computer, peripherals and embedded systems marketplaces. The Company's products provide solutions in Personal Computer Input/Output (PC I/O), PC Systems Logic, PC Connectivity, Local Area Networking and Embedded Control Systems. SMSC is the world's leading supplier of PC I/O circuits, with over 140 million units shipped.
Standard Microsystems is based in Hauppauge, New York and maintains offices worldwide, including locations in North America, Asia, Europe and Japan. SMSC operates engineering design centers in San Jose, CA; Westborough, MA; Hauppauge, NY and Austin, TX. More information about the Company is available on the World Wide Web at smsc.com.
''Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this announcement are forward-looking statements that involve risks and uncertainties, including the timely development and market acceptance of new products, the impact of competitive products and pricing, the effect of changing economic conditions, and such risks and uncertainties as are detailed from time to time in the Company's SEC reports, including the Annual Report filed on Form 10-K and the Quarterly Reports filed on Form 10-Q.
Standard Microsystems is a registered trademark and SMSC is a trademark of Standard Microsystems Corporation. Product names and company names are the trademarks of their respective holders.
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