Spansion’s Next Phase of Transformation– Cypress Merger
by John Kispert
I am sure you have seen the news today that we have announced our intent to merge with Cypress. This is a great step forward for us and a move I am very excited about.
http://news.spansion.com/2014-12-01-Cypress-and-Spansion-to-Merge-in-4-Billion-All-Stock-Transaction
As you know, when I first joined the company, I was hired to sell Spansion, but chose instead to work with all of you to turn around the company. Five years later, look at what we have become – the leader in embedded flash and a major supplier of MCUs with a burgeoning analog business. We are a strategic supplier to 24 of the 25 largest automotive companies worldwide and the second largest MCU supplier in Japan. I will always be proud of this amazing progress. As a result of all our hard work, we have the opportunity to grow even larger and more importantly through this merger with Cypress.
Economies of scale are critical in the semiconductor industry. Larger companies can leverage so much more and, to remain competitive, we must grow. Cypress and Spansion together will top $2B in revenue. We’ll expand our product portfolio to become a broader memory supplier, adding SRAM and FRAM. Our MCU product lines will be supplemented by Cypress’s innovative PSoC and Human Machine Interface (HMI) products, which will be highly complementary to our MCU efforts. Our strength in automotive will now be complemented with their strength in consumer and communications. There will be a lot of synergies in our product lines with no overlap. Bottom line, we’ll be more important to more customers and industries.
This transaction was most attractive to Spansion for the following reasons:
A “merger of equals”
Both companies have leadership in microcontrollers and memory
Complementary product portfolios and technologies
Complementary customer and market engagements
Significant manufacturing synergies with potential for incremental customer/channel revenues due to broader product portfolio
Combined company will be stronger than either company individually
Customers will benefit from the greater scale, global reach and enhanced product portfolio
Profitable with more than $2 billion in revenues and the ability to steadily improve gross and operating margins
I believe it is the right time for us to merge with Cypress. It is thanks to all of you and your hard work that we were able to get to this point. I am extremely proud of our transformation and accomplishments. Together we have made bold moves.
I know great things will continue to come for the people at Spansion. Our people, products and technology are the best in the industry. I truly believe this and I am your biggest advocate.
The senior leadership team and I have spent a lot of time with the management team of Cypress before finalizing our decision. We share similar values, drive and focus on our people and delivering innovative products and excellent service to our customers. Bold companies have very high standards.
I am excited to serve on the board of the new company and T.J. Rodgers of Cypress will be the CEO. Spansion executives will continue to play critical roles.
The next phase of our process is to go through the necessary legal and regulatory approvals before we close, which we expect in first half 2015. The senior team will be holding town hall meetings around the world to share more with you and answer your questions.
I believe this is right next step in our transformation. I again thank you for your diligent work. I am extremely proud of each of you and our accomplishments. I look forward to talking to you soon.
John
Employee meetings will be held at the following times. Webex information and a video will be posted on our intranet soon.
Sunnyvale and Austin today at 3:15 pm Pacific
Asia: 5:30 Pacific today, 10:30 am Japan on Tuesday, 9:30 am China, Penang, 830 am Bangkok
Europe Tuesday at 2:00 pm CET, 5:00 am Pacific.
Spansion’s Next Phase of Transformation– Cypress Merger
by John Kispert
I am sure you have seen the news today that we have announced our intent to merge with Cypress. This is a great step forward for us and a move I am very excited about.
http://news.spansion.com/2014-12-01-Cypress-and-Spansion-to-Merge-in-4-Billion-All-Stock-Transaction
As you know, when I first joined the company, I was hired to sell Spansion, but chose instead to work with all of you to turn around the company. Five years later, look at what we have become – the leader in embedded flash and a major supplier of MCUs with a burgeoning analog business. We are a strategic supplier to 24 of the 25 largest automotive companies worldwide and the second largest MCU supplier in Japan. I will always be proud of this amazing progress. As a result of all our hard work, we have the opportunity to grow even larger and more importantly through this merger with Cypress.
Economies of scale are critical in the semiconductor industry. Larger companies can leverage so much more and, to remain competitive, we must grow. Cypress and Spansion together will top $2B in revenue. We’ll expand our product portfolio to become a broader memory supplier, adding SRAM and FRAM. Our MCU product lines will be supplemented by Cypress’s innovative PSoC and Human Machine Interface (HMI) products, which will be highly complementary to our MCU efforts. Our strength in automotive will now be complemented with their strength in consumer and communications. There will be a lot of synergies in our product lines with no overlap. Bottom line, we’ll be more important to more customers and industries.
This transaction was most attractive to Spansion for the following reasons:
A “merger of equals”
Both companies have leadership in microcontrollers and memory
Complementary product portfolios and technologies
Complementary customer and market engagements
Significant manufacturing synergies with potential for incremental customer/channel revenues due to broader product portfolio
Combined company will be stronger than either company individually
Customers will benefit from the greater scale, global reach and enhanced product portfolio
Profitable with more than $2 billion in revenues and the ability to steadily improve gross and operating margins
I believe it is the right time for us to merge with Cypress. It is thanks to all of you and your hard work that we were able to get to this point. I am extremely proud of our transformation and accomplishments. Together we have made bold moves.
I know great things will continue to come for the people at Spansion. Our people, products and technology are the best in the industry. I truly believe this and I am your biggest advocate.
The senior leadership team and I have spent a lot of time with the management team of Cypress before finalizing our decision. We share similar values, drive and focus on our people and delivering innovative products and excellent service to our customers. Bold companies have very high standards.
I am excited to serve on the board of the new company and T.J. Rodgers of Cypress will be the CEO. Spansion executives will continue to play critical roles.
The next phase of our process is to go through the necessary legal and regulatory approvals before we close, which we expect in first half 2015. The senior team will be holding town hall meetings around the world to share more with you and answer your questions.
I believe this is right next step in our transformation. I again thank you for your diligent work. I am extremely proud of each of you and our accomplishments. I look forward to talking to you soon.
John
Employee meetings will be held at the following times. Webex information and a video will be posted on our intranet soon.
Sunnyvale and Austin today at 3:15 pm Pacific
Asia: 5:30 Pacific today, 10:30 am Japan on Tuesday, 9:30 am China, Penang, 830 am Bangkok
Europe Tuesday at 2:00 pm CET, 5:00 am Pacific.
การแปล กรุณารอสักครู่..
Spansion’s Next Phase of Transformation– Cypress Merger
by John Kispert
I am sure you have seen the news today that we have announced our intent to merge with Cypress. This is a great step forward for us and a move I am very excited about.
http://news.spansion.com/2014-12-01-Cypress-and-Spansion-to-Merge-in-4-Billion-All-Stock-Transaction
As you know, when I first joined the company, I was hired to sell Spansion, but chose instead to work with all of you to turn around the company. Five years later, look at what we have become – the leader in embedded flash and a major supplier of MCUs with a burgeoning analog business. We are a strategic supplier to 24 of the 25 largest automotive companies worldwide and the second largest MCU supplier in Japan. I will always be proud of this amazing progress. As a result of all our hard work, we have the opportunity to grow even larger and more importantly through this merger with Cypress.
Economies of scale are critical in the semiconductor industry. Larger companies can leverage so much more and, to remain competitive, we must grow. Cypress and Spansion together will top $2B in revenue. We’ll expand our product portfolio to become a broader memory supplier, adding SRAM and FRAM. Our MCU product lines will be supplemented by Cypress’s innovative PSoC and Human Machine Interface (HMI) products, which will be highly complementary to our MCU efforts. Our strength in automotive will now be complemented with their strength in consumer and communications. There will be a lot of synergies in our product lines with no overlap. Bottom line, we’ll be more important to more customers and industries.
This transaction was most attractive to Spansion for the following reasons:
A “merger of equals”
Both companies have leadership in microcontrollers and memory
Complementary product portfolios and technologies
Complementary customer and market engagements
Significant manufacturing synergies with potential for incremental customer/channel revenues due to broader product portfolio
Combined company will be stronger than either company individually
Customers will benefit from the greater scale, global reach and enhanced product portfolio
Profitable with more than $2 billion in revenues and the ability to steadily improve gross and operating margins
I believe it is the right time for us to merge with Cypress. It is thanks to all of you and your hard work that we were able to get to this point. I am extremely proud of our transformation and accomplishments. Together we have made bold moves.
I know great things will continue to come for the people at Spansion. Our people, products and technology are the best in the industry. I truly believe this and I am your biggest advocate.
The senior leadership team and I have spent a lot of time with the management team of Cypress before finalizing our decision. We share similar values, drive and focus on our people and delivering innovative products and excellent service to our customers. Bold companies have very high standards.
I am excited to serve on the board of the new company and T.J. Rodgers of Cypress will be the CEO. Spansion executives will continue to play critical roles.
The next phase of our process is to go through the necessary legal and regulatory approvals before we close, which we expect in first half 2015. The senior team will be holding town hall meetings around the world to share more with you and answer your questions.
I believe this is right next step in our transformation. I again thank you for your diligent work. I am extremely proud of each of you and our accomplishments. I look forward to talking to you soon.
John
Employee meetings will be held at the following times. Webex information and a video will be posted on our intranet soon.
Sunnyvale and Austin today at 3:15 pm Pacific
Asia: 5:30 Pacific today, 10:30 am Japan on Tuesday, 9:30 am China, Penang, 830 am Bangkok
Europe Tuesday at 2:00 pm CET, 5:00 am Pacific.
การแปล กรุณารอสักครู่..