Remeber ELON?, the next CSCO.
fnews.yahoo.com
More big news and I'm letting everyone know early again, low tradable float about 1Mil, huge institutional ownership, Soros owns 1 Mil shares
Wednesday May 5, 9:01 am Eastern Time
Company Press Release
Cypress, Echelon Partner to Build Neuron Network Processor Chip
Partnership to Accelerate the Device Networking Revolution
PALO ALTO, Calif.--(BUSINESS WIRE)--May 5, 1999--Echelon Corporation (Nasdaq:ELON - news) and Cypress Semiconductor Corporation (NYSE:CY - news) today announced an agreement under which Cypress will develop, market and sell Neuron® Chips, which are microcontrollers that enable devices to be networked in home, industrial, building and transportation applications worldwide.
Neuron Chips provide the logic for LONWORKS® control networks, an open control standard that enables users to connect a broad range of LONWORKS compatible products -- from motors, switches, and valves, to security systems, light switches, and heating and air-conditioning systems -- in a peer-to-peer networked environment.
''We are delighted to have Cypress as a Neuron Chip partner,'' said Ken Oshman, president and CEO of Echelon. ''Cypress brings a track record of design, manufacturing and marketing success in high-volume, cost-sensitive, embedded control markets.''
Cypress president and CEO T.J. Rodgers said, ''There are hundreds of control devices -- pumps, motors, air conditioning, lights and switches -- for every PC in the world. The market is huge. Echelon solved the control networking problem with the highly sophisticated Neuron Chip, which contains three microcontrollers and a large memory -- all run by an advanced, open device networking protocol. Recently, Cisco Systems made it clear that 'network controllable devices' were also 'Internet controllable devices' when John Chambers personally demonstrated an Internet-controlled LONWORKS home network.''
Rodgers continued, ''The LONWORKS control network market is now moving into the high-volume phase, and Cypress has partnered with Echelon to add value to that market. In the last year, Cypress has ramped its Universal Serial Bus PC-communications link from nil to four million units per quarter. We see the Neuron Chip and LONWORKS networks as our next big opportunity.''
Each Neuron Chip contains three CPUs, on-board memory, general purpose I/O pins, and a complete, interoperable implementation of the EIA 709.1 control networking protocol standard. Cypress plans to use FLASH technology to deliver robust, flexible, cost effective solutions for the LONWORKS environment.
Cypress products will offer enhanced functionality, while maintaining pin-compatibility with the existing Neuron Chip offerings. The LONWORKS standard is supported by a fast-growing number of networking equipment manufacturers.
About Echelon Corp.
Echelon Corporation (Nasdaq:ELON - news) is the developer of LONWORKS networks, recognized internationally as a standard for interoperable control networks. With thousands of application developers and millions of devices installed worldwide, the LONWORKS system is a leading open, networked control solution for building and home automation, industrial, transportation, and public utility applications.
Echelon offers a full range of off-the-shelf hardware and software products to support the development, installation and management of intelligent, open and interoperable control networks. Echelon is based in Palo Alto with international offices in China, France, Germany, Japan, Korea, The Netherlands and the United Kingdom. News and information are available at echelon.com.
About Cypress Semiconductor Corp.
Cypress Semiconductor Corporation (NYSE:CY - news) is an international supplier of high-performance integrated circuits with worldwide headquarters in San Jose, Calif. The company provides a broad range of products for leading computer, networking, and telecommunications companies worldwide.
The company's product line includes static RAMs, high-speed PROMs, and specialty memories; programmable logic devices (PLDs); data communications products; and timing devices and USB microcontrollers. Cypress shares are listed on the New York Stock Exchange under the symbol CY. The company has a site on the World Wide Web at cypress.com.
This press release may contain statements relating to future plans, events or performance. Such statements may involve risks and uncertainties, including risks associated with uncertainties pertaining to the timing and level of customer orders, demand for products and services, development of markets for both Echelon's and Cypress's products and services and other risks identified in Echelon's and Cypress's SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Echelon and Cypress undertake no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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Contact:
Echelon Corp., Palo Alto
Maureen Rathjens, 650/855-7402 (Press)
mrathjens@echelon.com
Chris Stanfield, 650/855-7400 (Investor Relations)
stanfield@echelon.com
or
Copithorne & Bellows Public Relations for Echelon Corp.
Michelle Dube, 408/571-2307 (Press)
michelle.dube@cbpr.com
or
Cypress Semiconductor, San Jose
Joe McCarthy, 408/943-2902 (Press & Investor Relations)
jmy@cypress.com
Don Parkman, 408/943-2817 (Press)
dsp@cypress.com
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More Quotes
and News: Cypress Semiconductor Corp (NYSE:CY - news)
Echelon Corp (Nasdaq:ELON - news)
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