Analog Semiconductor Consolidation in Discussion

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Despite Attractive Margins and Stability Analog Semiconductor Consolidation Likely based on industry wide excess capacity, constraints on Analog expertise, and outside interests.

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Analog Semiconductor Consolidation in Discussion

  1. 1. ANALOG SEMICONDUCTOR CONSOLIDATION IN DISCUSSION Despite Attractive Margins and Stability Analog Semiconductor Consolidation Likely BILL KOHNEN P A C R I M S E MI C O N F E R E N C E NOTES OCTOBER 2013
  2. 2. SUMMARY  The Analog Semiconductor segment is relatively stable, maintains good margins and has modest but consistent growth with low capital and operational cost for existing well managed companies.  There has been some recent consolidation (Texas Instruments and National Semi)  Various factors continue to make consolidations/mergers likely  Active discuss likely going on now including major players outside of current Analog Space BILL KOHNEN P A C R I M S E MI C O N F E R E N C E NOTES OCTOBER 2013
  3. 3. FACTORS DRIVING CONSOLIDATION  Current Excess Capacity  Industry wide G&A Excess  Constrained Analog Design Technology Expertise Worldwide  Always interest from DSP, Processor, and Memory players to look to own more of the signal chain or motherboard  Major Analog Buyers starting to look at market  Global Industrial Giants that may already have some internal Semi production BILL KOHNEN 2013 P A C R I M S E MI C O N F E R E N C E N O T E S OCTOBER
  4. 4. SERIOUS EVALUATIONS IN ANALOG SPACE ONGOING  Analog is a small community so there have generally always been lukewarm discussions going on  However, seriousness of talks seems to be at high level global driven by changing of guard within industry executive management as well as interest of outside players  Even those on inside probably can not say who and when but likely sooner rather than later and will include companies in revenue range of one to two billion. BILL KOHNEN P A C R I M S E MI C O N F E R E N C E NOTES OCTOBER 2013

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