Harold A. Blomquist, Simtek's president and chief executive officer stated, "Simtek has not been contemplating selling the Company. However, in response to recent actions by Cypress, we will consider all options. The Company intends to engage an advisor to assist management and the Board with respect to this and other strategic options in order to maximize long-term value for shareholders."
Blomquist concluded, "We are prepared to enter into more serious discussions with Cypress and other potential strategic partners. The value of Simtek's overall business is a function of three elements: the Company's core nvSRAM business, new products being launched in 2008 at 4 megabit and larger densities, and new high density nvRAMs being developed in the Company's San Diego design center, each of which has potential for sustained and considerable growth."
About Simtek Corporation
Simtek Corporation designs and markets "NV + fast SRAM" nonvolatile semiconductor memory products for use in a variety of systems including RAID servers, storage arrays, GPS navigational systems, industrial controllers, robotics, copiers, avionics, metering, consumer, UPS, and networking and broadcast equipment. Information on Simtek products can be obtained from its web site: www.simtek.com; email: information@simtek.com. The company is headquartered in Colorado Springs, Colorado.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements predicting Simtek's future growth. These forward-looking statements are inherently difficult to predict and involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, projections of future performance including predictions of future profitability and expectations of the business environment in which Simtek operates. For a detailed discussion of these and other risk factors, please refer to Simtek's filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K and subsequent Form 10-Q and Form 8-K filings.
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