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SiRF Technology Acquires Impulsesoft, Strengthening SiRF's India Operations
Company news | January 25, 2006
BANGALORE, India and SAN JOSE, Calif., January. 25, 2006 - SiRF Technology Holdings, Inc. (Nasdaq: SIRF), a leading provider of GPS-enabled silicon and premium software location platforms, today announced that it has acquired Impulsesoft, an expert in Bluetooth stereo solutions and embedded software, in a cash transaction. This acquisition significantly improves SiRF's capabilities to deliver and support value-added embedded software solutions, to complement its chip-set offerings, for enhanced user experience. In parallel, SiRF also launched its first multifunction product line, SiRFLinkI, combining GPS and Bluetooth capabilities in a single chip that utilizes the software and system expertise from Impulsesoft (see press release entitled SiRF Expands Horizons, Unveils its First Multifunction Platform.)
Founded in 1999, Impulsesoft is recognized as an innovator in Bluetooth stereo solutions worldwide and is an associate member of the Bluetooth Special Interest Group. Its software powers a range of mobile phone and consumer products including naviPlay, the first Bluetooth stereo adapter and remote control designed specifically for the iPod. The company's software is optimized for a range of peripherals and OEM mobile platforms including headphones, headsets and adapters, remote controls for portable music players, and mobile phone solutions.
"Cost-effective embedded software development expertise is a critical capability for us, especially as we expand our offerings to include complex multifunction solutions," said Michael Canning, president and chief executive officer of SiRF. "The world-class expertise and experience of the Impulsesoft team will significantly expand our strategic presence in India."
Targeted at mobile phone, automotive and consumer markets, Impulsesoft's product offerings include:
Impulsesoft has become a wholly owned subsidiary of SiRF Technology Holdings, and all 55 employees of Impulsesoft have joined SiRF. The team in Bangalore is now working in conjunction with the SiRF teams worldwide on new product developments including the recently launched SiRFLinkI multifunction product line. In addition some of the team members will continue to work with key strategic customers and semiconductor partners to license its software product offerings.
"SiRF's leadership in GPS enabled location technology market place opens up vast opportunities for our embedded software expertise," said K. Srikrishna, president and chief executive officer of Impulsesoft. "Both our companies share a vision of providing solutions that enhance the user experience in the vast markets that we serve, including mobile phone, automotive, mobile compute and consumer platforms."
The transaction was completed in December 2005. SVB Alliant, the investment banking subsidiary of SVB Financial Group, represented Impulsesoft in this transaction.
About SiRF Technology Holdings, Inc.
SiRF Technology Holdings, Inc. develops and markets semiconductor and software products that are designed to enable location-awareness utilizing GPS and other location technologies, enhanced by wireless connectivity capabilities such as Bluetooth, for high-volume mobile consumer devices and commercial applications. SiRF's technology has been integrated into mobile consumer devices such as automobile navigation systems, mobile phones, PDAs, GPS-based peripherals and handheld GPS navigation devices, and into commercial applications such as location servers, asset tracking devices and fleet management systems. SiRF markets and sells its products in four target platforms: automotive, consumer electronics, mobile computing, and wireless devices. Founded in 1995, SiRF is headquartered in San Jose, Calif., and has sales offices, design centers and research facilities around the world. The company trades on the Nasdaq Stock Exchange under the symbol SIRF. Additional information about SiRF and its location technology solutions can be found at www.sirf.com.
About Impulsesoft
Impulsesoft Private Limited, headquartered in Bangalore, India with a branch office in California, is a leader in providing Bluetooth audio solutions for original equipment manufacturers (OEMs). Impulsesoft enables its customers to bring innovative products for digital media players, mobile phones and automotive by delivering a variety of products as software, reference designs and OEM products. Impulsesoft is an early adopter of the Bluetooth Special Interest Group.
Forward-Looking Statements:
Except for the historical information contained herein, the matters set forth in this press release, including, but not limited to, statements regarding SiRF's expanded product offerings and the adoption of Bluetooth and GPS Platforms are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "to," "being," " possible," "may," "addresses," "designed to," "provide," "believe," and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and should not be considered as an indication of future performance. SiRF's actual results could differ materially from those discussed in these forward-looking statements as a result of risks and uncertainties, including, among others, demand and market acceptance for our products and those of our customers, the market for GPS-based location awareness and Bluetooth capabilities, risks associated with the semiconductor industry and other risks and uncertainties discussed in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2005 and from time to time in SiRF's SEC reports. These forward-looking statements speak only as of the date hereof. We do not undertake any obligation to update forward-looking statements.
Editors Note: SiRF Technology and the SiRF logo are registered trademarks of SiRF Technology, Inc. Other trademarks are property of their respective companies.
Founded in 1999, Impulsesoft is recognized as an innovator in Bluetooth stereo solutions worldwide and is an associate member of the Bluetooth Special Interest Group. Its software powers a range of mobile phone and consumer products including naviPlay, the first Bluetooth stereo adapter and remote control designed specifically for the iPod. The company's software is optimized for a range of peripherals and OEM mobile platforms including headphones, headsets and adapters, remote controls for portable music players, and mobile phone solutions.
"Cost-effective embedded software development expertise is a critical capability for us, especially as we expand our offerings to include complex multifunction solutions," said Michael Canning, president and chief executive officer of SiRF. "The world-class expertise and experience of the Impulsesoft team will significantly expand our strategic presence in India."
Targeted at mobile phone, automotive and consumer markets, Impulsesoft's product offerings include:
- iBTStack - an embedded Bluetooth protocol stack with intelligent middleware for music and voice co-existence
- iWALTZ - a platform that enables music streaming from mobile phones to Bluetooth stereo headsets
- iWiND - a Bluetooth multimedia solution for in-car entertainment
- iWiSH - a Bluetooth wireless stereo headphone reference design and software
Impulsesoft has become a wholly owned subsidiary of SiRF Technology Holdings, and all 55 employees of Impulsesoft have joined SiRF. The team in Bangalore is now working in conjunction with the SiRF teams worldwide on new product developments including the recently launched SiRFLinkI multifunction product line. In addition some of the team members will continue to work with key strategic customers and semiconductor partners to license its software product offerings.
"SiRF's leadership in GPS enabled location technology market place opens up vast opportunities for our embedded software expertise," said K. Srikrishna, president and chief executive officer of Impulsesoft. "Both our companies share a vision of providing solutions that enhance the user experience in the vast markets that we serve, including mobile phone, automotive, mobile compute and consumer platforms."
The transaction was completed in December 2005. SVB Alliant, the investment banking subsidiary of SVB Financial Group, represented Impulsesoft in this transaction.
About SiRF Technology Holdings, Inc.
SiRF Technology Holdings, Inc. develops and markets semiconductor and software products that are designed to enable location-awareness utilizing GPS and other location technologies, enhanced by wireless connectivity capabilities such as Bluetooth, for high-volume mobile consumer devices and commercial applications. SiRF's technology has been integrated into mobile consumer devices such as automobile navigation systems, mobile phones, PDAs, GPS-based peripherals and handheld GPS navigation devices, and into commercial applications such as location servers, asset tracking devices and fleet management systems. SiRF markets and sells its products in four target platforms: automotive, consumer electronics, mobile computing, and wireless devices. Founded in 1995, SiRF is headquartered in San Jose, Calif., and has sales offices, design centers and research facilities around the world. The company trades on the Nasdaq Stock Exchange under the symbol SIRF. Additional information about SiRF and its location technology solutions can be found at www.sirf.com.
About Impulsesoft
Impulsesoft Private Limited, headquartered in Bangalore, India with a branch office in California, is a leader in providing Bluetooth audio solutions for original equipment manufacturers (OEMs). Impulsesoft enables its customers to bring innovative products for digital media players, mobile phones and automotive by delivering a variety of products as software, reference designs and OEM products. Impulsesoft is an early adopter of the Bluetooth Special Interest Group.
Forward-Looking Statements:
Except for the historical information contained herein, the matters set forth in this press release, including, but not limited to, statements regarding SiRF's expanded product offerings and the adoption of Bluetooth and GPS Platforms are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "to," "being," " possible," "may," "addresses," "designed to," "provide," "believe," and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and should not be considered as an indication of future performance. SiRF's actual results could differ materially from those discussed in these forward-looking statements as a result of risks and uncertainties, including, among others, demand and market acceptance for our products and those of our customers, the market for GPS-based location awareness and Bluetooth capabilities, risks associated with the semiconductor industry and other risks and uncertainties discussed in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2005 and from time to time in SiRF's SEC reports. These forward-looking statements speak only as of the date hereof. We do not undertake any obligation to update forward-looking statements.
Editors Note: SiRF Technology and the SiRF logo are registered trademarks of SiRF Technology, Inc. Other trademarks are property of their respective companies.