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EXHIBIT 99.3
CYPRESS TO ACQUIRE RF CIRCUIT SPECIALIST RADIOCOM CORP.
NEW ADDITION IS EXPECTED TO HELP CYPRESS PENETRATE BEYOND BASEBAND
AND CONTROL TO RF SECTIONS OF EMERGING WIRELESS SYSTEMS
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SAN JOSE, California...April 27, 2000 -- Cypress Semiconductor
Corporation (NYSE:CY) today announced the signing of a letter of intent to
acquire RadioCom Corporation, a privately held company specializing in the
architecture and design of semiconductor radio frequency (RF) circuits. The
terms of the deal were not disclosed.
The acquisition was made to further accelerate Cypress's penetration of
the exploding wireless handset market, where the company currently enjoys
success with its ultra-low-power MoBL(TM) (More Battery Life(TM)) SRAMs and its
low-noise Radio Frequency Phase-Locked Loop (RF PLL) product family used in
cellular handsets.
"In the past three years, Cypress has grown its wireless business
quickly, particularly in the area of cellular handsets," said Dan McCranie,
Executive Vice President, Marketing and Sales. "In 1999, we provided chips for
less than 10 million cellular handsets. In 2000, we forecast that there will be
Cypress chips in more than 100 million handsets, a tenfold increase in market
penetration.
"Our primary focus thus far has been the baseband and control sections
of wireless systems," McCranie said. "The addition of an elite group of
high-frequency analog semiconductor specialists will facilitate the creation of
new product portfolios for the RF sections of these systems."
"Cypress has strong, longstanding strategic relationships with a wide
range of established and startup companies in communications market segments
across the board," said RadioCom Chief Executive Officer Lawrence Ragan. "Their
process and design expertise complements our own capabilities. With a large,
technically skilled marketing and sales organization leveraging this combined
technology base, Cypress will provide exceptional, cost-effective semiconductor
end product for new generations of wireless systems."
ABOUT CYPRESS
Cypress Semiconductor provides high-performance integrated circuit
solutions "By Engineers. For Engineers.(TM)" for fast-growing companies in
fast-growing markets, including data communications, telecommunications,
computation, consumer products, and industrial control. With a focus on emerging
communications applications, Cypress's product lines include
networking-optimized and micropower static RAMs; high-bandwidth multiport and
FIFO memories; high-density programmable logic devices; timing technology for
PCs and other digital systems; and controllers for Universal Serial Bus (USB).
Cypress is No. 1 in the USB and clock chip markets.
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More than two-thirds of Cypress's sales come from fast-growing
datacom/telecom markets and dynamic companies such as Alcatel, Cisco, Ericsson,
Lucent, Motorola, Nortel Networks, and 3Com. Cypress's ability to mix and match
its broad portfolio of intellectual property enables targeted, integrated
solutions for high-speed systems that feed bandwidth-hungry Internet
applications. Cypress aims to become the preferred silicon supplier for Internet
switching systems and for every Internet data stream to pass through at least
one Cypress IC.
Cypress employs more than 3,900 people worldwide with international
headquarters in San Jose, California. Its shares are listed on the New York
Stock Exchange under the symbol CY. More information about Cypress is accessible
electronically on the company's worldwide web site at http://www.cypress.com or
by CD-ROM (call 1-800-858-1810). An electronic investor forum, and other
investor information, is located at http://www.cypress.com/investor/index.html.
ABOUT RADIOCOM
RadioCom Corporation is a privately held company located in Portland,
Oregon. RadioCom has a track record of providing cost-effective designs of radio
frequency systems implemented with custom integrated circuits. The company is
structured to provide the blend of radio frequency system design, circuit design
and analog integrated circuit design skills essential to rapid commercial
success of new product concepts in wireless marketplaces. RadioCom takes pride
in its ability to add value to the entire IC development process, from problem
definition, through system design, specification generation, detailed circuit
design, integrated circuit layout, and supporting the testing of the IC/system,
transfer to production, and ongoing production support.
SAFE-HARBOR PROVISION
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: Statements herein that are not historical facts are
"forward-looking statements" involving risks and uncertainties. Please refer to
Cypress's Securities and Exchange Commission filings for a discussion of such
risks.
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