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Cypress Completes Acquisition of Lara Networks Inc.
SAN JOSE, Calif.--(BUSINESS WIRE)--July 10, 2001--
Cypress Semiconductor Corporation (NYSE: CY) today announced that
it completed its acquisition of Lara Networks Inc. Lara is an industry
leader in high-performance, silicon-based packet-processing solutions
for WAN infrastructure equipment. Lara's solutions target switches,
routers and multiservice gateways handling multiple high-speed
protocols up to OC-768 and including 10-Gigabit Ethernet.
Wire-speed packet processing is a key requirement of
high-performance, next-generation networking systems. Lara's family of
network search engines (NSEs) and network coprocessors is used widely
by leading networking OEMs.
``Lara's NSEs and coprocessors are highly complementary to Cypress
products targeted at infrastructure equipment that moves voice, data
and multimedia across high-performance broadband networks such as the
Internet,'' said T.J. Rodgers, Cypress president and CEO.
``Cypress historically has been a strong player at the port and
backplane `edges' of networking linecards -- subsystems of switches
and routers that receive information from networks and direct it to
individual users, subsystems or other networks,'' Rodgers said. ``Lara's
products will enable us to address the core functionality of network
processors, the `brains' of a networking subsystem.''
``Lara's NSEs and coprocessors are synergistic with Cypress's
current offerings for the networking market and will expand Cypress's
portfolio of solutions across the linecard,'' said Kamal Gunsagar,
Lara's CEO. ``From Lara's perspective, we will be able to leverage the
strength of Cypress's global sales and marketing organizations to
attract new customers and secure new design opportunities.''
Cypress offers a range of integrated circuit solutions for
networking systems, building on its core competencies in
communications memory, high-speed programmable logic, high-performance
physical-layer devices and mixed-signal timing solutions.
About Cypress
Cypress Semiconductor is ``Driving the Communications
Revolution''(TM) by providing high-performance integrated circuit
solutions to fast-growing markets, including data communications,
telecommunications, computation, consumer products, and industrial
control. With a focus on emerging communications applications,
Cypress's product portfolios include networking-optimized and
micropower static RAMs; high-bandwidth multiport and FIFO memories;
high-density programmable logic devices; timing technology for PCs and
other digital systems; and controllers for Universal Serial Bus (USB).
Safe Harbor Provision
The above news release contains forward-looking statements that
involve risks and uncertainties. These forward looking statements
relate to the expected impact of the acquisition on Cypress's
operating results, future market demand and acceptance of Cypress's
and Lara's products and development of new business and products of
the combined company. Cypress's actual results may vary materially
from the results discussed in the forward-looking statements.
Factors that may cause such a difference include those risks
surrounding the closing of the acquisition, timely development,
production and continued and increased market acceptance of the
combined companies' products, Cypress's ability to successfully
combine the operation of the two companies, the ability of the
combined company to compete in the highly competitive and rapidly
changing marketplace and the other risks detailed from time to time in
Cypress's periodic reports with the Securities and Exchange
Commission, including but not limited to its report on Form 10-K for
the fiscal year ended December 31, 2000 and its report on Form 10-Q
for the fiscal quarter ended April 1, 2001.
Note to Editors: ``Driving the Communications Revolution'' is a
trademark of Cypress Semiconductor.
Contact:
Cypress Semiconductor
Manny Hernandez, 408/943-2754
Joe McCarthy, 408/943-2902 (press contact)
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