Intersil Corporation (ticker: ISIL, exchange: NASDAQ Global Market (.O))
News Release -
Intersil Becomes the Lead Strategic Investor in Bluetooth Leader Silicon Wave
IRVINE, Calif.--(BUSINESS WIRE)--Aug. 23, 2000--
Intersil is biggest investor in this round of Silicon Wave financing
Intersil (Nasdaq:ISIL), the world's leading developer of silicon
technology for Wireless Local Area Networks (WLANs), today announced a
strategic investment in San Diego-based Silicon Wave, Inc. Intersil
will become the lead strategic investor in Silicon Wave's Series D
financing. This announcement comes on the heels of Intersil's
investment in Sybergen Networks (announced August 15) for the
development of software for wireless networking systems.
Intersil's PRISM(R) Wireless Local Area Networking solutions are
widely recognized as leading the industry in IEEE802.11-based systems
marketed by such heavyweights as Cisco, Alcatel, Compaq, 3Com and many
others. Silicon Wave designs RF systems-on-chip for next generation
communications products that require small, low-power solutions and is
considered a leader in providing highly-integrated radio components
supporting Bluetooth wireless technology.
"Intersil and Silicon Wave provide complementary technologies for
wireless zones including the home, office and public places," said
Greg Williams, Intersil president and CEO. "Silicon Wave is fielding
entire RF systems-on-chip for Bluetooth, the emerging specification
for personal connectivity. Intersil's PRISM solution is aimed at
full-featured wireless Ethernet applications under the IEEE's 802.11
standard. We expect these two standards to become the prevailing
standards and we envision the development of a wide variety of
information appliances that will use one of these two complementary
technologies depending on the specific use of the device."
Bluetooth technology supports 1 megabit per second (Mbps) data
rates in the 2.4 GHz band and communication at a range of up to 30
feet. Such operation is perfect for synchronizing web appliances, cell
phones or other Internet browsing devices. Systems that comply with
the IEEE's 802.11 standard can operate over 10 times faster (11 Mbps)
and with about the same multiple for range (300 feet). Williams said,
"Though each standard is different, we feel that each is perfect for
its application and we think devices will not only proliferate around
each standard, but become vital data connectivity tools just about
everywhere people live, work or visit."
"Our goal for PRISM is to field complete solutions so that our
customers can get to market quickly no matter whether they're
addressing the enterprise, small office, home or consumer segments,"
added Williams. "Our acquisition of No Wires Needed and our strategic
investment in Sybergen and now Silicon Wave are evidence of that
"Silicon Wave is pleased to have Intersil as the lead investor in
this round of funding," said Dave Lyon, Chairman and CEO of Silicon
Wave. "Intersil's focus on high data rate wireless markets has obvious
synergies with our own strategies in wireless and broadband
Adoption of PRISM WLAN Technology
Since introducing the PRISM WLAN chip set in 1996, over fifty
companies have incorporated PRISM chips in more than 100 product
designs. In a May 2000 report, the Cahners In-Stat Group called
Intersil "the dominant force in the WLAN chip set marketplace with
their PRISM chipsets holding the majority of market share." PRISM
technology is designed to comply with the IEEE's 802.11b global
standard, and Intersil is a founding sponsor of the Wireless Ethernet
Compatibility Alliance (WECA), whose Wi-Fi(TM) brand is a mark of
compatibility for 802.11b-based systems. PRISM chips are used in WLAN
systems from industry-leading companies including Alcatel, Cisco,
Nokia, Siemens, Compaq, 3Com, Dell, Nortel, Samsung, SpectraLink,
Symbol Technologies and Zoom.
About Silicon Wave
Based in San Diego, Silicon Wave designs and develops RF
systems-on-chip for use in wireless and broadband communication
systems and products. The company was founded in 1997 with a mission
to be the leader in system-level RF ICs. Silicon Wave products include
Odyssey solutions for Bluetooth wireless communications, and silicon
tuners for cable modems and digital set-top boxes. The company was the
first to deliver a single-chip Bluetooth radio and is an Associate
Member of the Bluetooth Special Interest Group (SIG). The company's
web site is located at www.siliconwave.com.
Irvine, California-based Intersil uses its semiconductor expertise
to enable highly integrated voice, data and video communications.
Intersil's integrated communications portfolio includes PRISM(R)
Wireless Local Area Network (WLAN) chip sets that enable mobile
connectivity products for the home and office; analog and mixed-signal
integrated circuits for broadband access to wireless and wired Wide
Area Networks (WANs); and power management products that enable 24x7
reliability in network servers, next generation PCs and information
appliances. For more information about Intersil, visit the company's
Internet homepage at www.intersil.com.
This press release contains information relating to the growing
demand for wireless products that are forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are based upon management's current
expectations, estimates, beliefs, assumptions, and projections about
our business and our industry. Words such as "anticipates," "expects,"
"intends," "plans," "believes," "seeks," "estimates," "may," "will"
and variations of these words or similar expressions are intended to
identify forward looking statements. In addition, any statements that
refer to expectations, projections or other characterizations of
future events or circumstances, including any underlying assumptions,
are forward looking statements. These forward-looking statements are
subject to certain risks, uncertainties and assumptions that are
difficult to predict. Therefore, our actual results could differ
materially and adversely from those expressed in the forward looking
statements as a result of various risk factors. Important risk factors
that may cause such material differences for Intersil in connection
with the wireless market include, but are not limited to, the rate at
which our present and future customers and end-users adopt Intersil's
wireless technologies and products; the timing, rescheduling or
cancellation of significant customer orders; the loss of a key
customer; the qualification, availability and pricing of competing
products and technologies and the resulting effects on sales and
pricing of our products; silicon wafer pricing and the availability of
foundry and assembly capacity and raw materials; intellectual property
disputes; as well as other risk factors detailed from time to time in
Intersil's filings with the U.S. Securities & Exchange Commission.
These forward-looking statements are made only as of the date of this
press release and Intersil undertakes no obligation to update or
revise these forward-looking statements.
PRISM is a registered trademark of Intersil Corporation.
Silicon Wave, the SiW product name prefix, Odyssey and the diamond
logo design are trademarks of Silicon Wave, Inc. All other product,
service and company names are trademarks, registered trademarks or
service marks of their respective owners.
||Intersil Corporation, Irvine
||Peter Samet, Investor Relations
||Brent Dietz, Public Relations