Dialog Semiconductor Board Reaffirms Support For Atmel Acquisition

(RTTNews) - The Board of Directors of Dialog Semiconductor Plc. (DLGNF.PK, DLGS) reaffirmed its support for Dialog's pending acquisition of Atmel Corp. The company continues to unanimously recommend that Dialog shareholders vote in favor of the transaction at the general meeting of Dialog shareholders scheduled for November 19.

Dialog Semiconductor issued this statement in response to the Institutional Shareholder Services Inc. recommendation issued on October 30.

"Our Board remains fully committed to the strategy of creating a global semiconductor leader in mobile, Internet of Things (IoT) and automotive applications. We strongly believe the acquisition of Atmel is a critical step to ensuring the successful execution of this strategy," said Jalal Bagherli, CEO and Executive Board Member of Dialog.

The combination of the differentiated technology portfolios is compelling. It will position Dialog to gain leadership positions in markets that are expected to grow rapidly in the next several years.