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Electronics Production | February 05, 2009

Atmel plans to exit ASIC Business

Atmel is pursuing strategic alternatives for the Company's ASIC business and related manufacturing assets, including a potential sale. This is a further step in Atmel's transformation plan, which is aimed at focusing on the Company's core microcontroller business and enhancing its cost structure.
"Atmel's Board and management team are focused on fully realizing the value of our company," said Steven Laub, Atmel's President and Chief Executive Officer. "Over the last year, we have taken decisive actions to improve and restructure nearly every aspect of Atmel's operations. The exploration of strategic alternatives for our ASIC business is another step in Atmel's ongoing transformation plan. Our ASIC business is a market leader in multiple segments, but is not a core component of our long-term strategy to build a microcontroller based company. As we proceed with this process, we will remain focused on continuing to drive technological leadership in our core business and providing innovative products and services for our ASIC customers."

The ASIC business includes an advanced 200mm fab located in Rousset, France, and a test and finishing operation located in East Kilbride, Scotland, UK, along with related design, operation, marketing, sales and support resources. Revenues for the ASIC business totaled $416 million for the twelve months ended December 31, 2008.
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