SANTA CLARA, CA – June 29, 2018 –Adesto Technologies (NASDAQ: IOTS), a leading provider of innovative application-specific semiconductors for the IoT era, and Echelon Corporation (NASDAQ: ELON) today announced a definitive agreement under which Adesto will acquire Echelon for $8.50 per share. Echelon is a pioneer in the development of open-standard networking platforms for connecting, monitoring and controlling devices in commercial and industrial applications. The acquisition price represents a total equity value of approximately $45 million, and a total enterprise value of about $30 million, after accounting for Echelon’s cash and investments on its balance sheet at March 31, 2018, as well as expected transaction expenses of approximately $4 million.
Benefits to Adesto of completing the transaction include：
- 增加收入并加速保证金扩张机会
- 预计在前12个月内享用EBITDA和非GAAP收益
- 可用市场（SAM）显着增加
- 增强技术资产和能力，包括工业IOT（IIT）的广泛的半导体，软件和系统解决方案
“随着收购梯队，我们正在继续推进我们在特定工业物联网上成为IOT市场的半导体和通信系统的重要参与者的愿景，”Adesto首席执行官Narbeh derhacobian说。“Adesto开始为IOT提供特定的非易失性记忆，我们继续使用各种差异化设备扩展我们的内存产品组合。通过S3半导体，我们添加了强大的混合信号和射频ASIC功能。在收购ECHELON之后，我们将不仅可以提供半导体，而且提供强大的软件和深度系统和解决工业系统和企业自动化专业知识，具有忠诚的客户群。正如阿迪斯托进入其下一阶段的下一阶段，我们对此收购潜在的潜在兴奋。“
Ronald Sege，席克隆公司席席公司席位，表示，“此交易向股东提供了立即和重大价值。我们的客户对我们的策略尤其兴奋地拥抱我们估计的1.4亿安装的Lon Powered Devices，并以新技术扩展，并通过基于云的分析增强它们，以实现各种应用程序的更好的业务成果，包括智能建筑，雷竞技安卓下载智能制造和智能照明。Adesto和Echelon的结合承诺通过产品，工程，销售，营销和服务中的预期协同作用加速这一增长策略。我们期待与Adesto团队密切合作，以确保顺利过渡并尽快完成交易。“
该交易受惯常的结束条件，包括梯队的股东批准。Adesto预计交易将在2018年第三季度关闭，之后，梯队将成为adesto内的业务单位。
Adesto expects to finance the transaction through a combination of existing cash and equity and/or debt. Adesto today issued a separate announcement regarding its financing plans.
Canaccord真正担任Adesto的财务顾问，Fenwick和West LLP担任Adesto的法律顾问。Piper Jaffray＆Co担任Echelon和Wilson Sonsini Goodrich＆Rosati的财务顾问，专业公司作为echelon的法律顾问。
电话会议和幻灯片演示信息
Adesto今天将于上午6点举办一次电话会议。太平洋时间讨论交易的详情。该呼叫将在互联网上广播，作为船舶网络广播，可以通过Adesto网站的投资者关系部分中的所有感兴趣的各方访问的幻灯片演示。投资者和分析师也可以通过拨号加入电话1-844-419-1786并提供确认码7076827。国际呼叫者可以通过使用相同的确认码拨打+ 1-216-562-0473加入电话会议。
电话会议的电话重播将在电话会议之后大约有两个小时，直到2018年7月6日在午夜太平洋时间。重放拨入号码为1-855-859-2056。国际呼叫者应拨打+ 1-404-537-3406。通过代码是7076827。
About Adesto Technologies
Adesto Technologies（纳斯达克：IOTS）是IOT时代的创新应用专用半导体的领先提供商。该公司的雷电竞下载app技术由全球2000多个客户使用，他们正在为工业，消费者，医疗和通信市场创建差异化解决方案。凭借其越来越多的高价值技术组合，Adesto正在帮助客户迎来客户的互联网时代。
Follow Adesto on推特。
关于Echelon Corp.
For 30 years Echelon (NASDAQ: ELON) has pioneered the development of open-standard networking platforms for connecting, monitoring and controlling devices in commercial and industrial applications. With more than 140 million connected devices installed worldwide, Echelon’s solutions host a range of applications enabling customers to reduce energy and operational costs, improve safety and comfort, and create efficiencies through optimizing physical systems. Echelon is focusing today on two IoT (Internet of Things) market areas: creating smart cities and smart campuses through connected outdoor lighting systems and enabling device makers to bring connected products to market faster via a range of IoT optimized embedded systems.
前瞻性陈述
本文档包含前瞻性陈述related to the proposed transaction between Adesto and Echelon, including statements regarding the expected benefits of the transaction, the time frame in which the transaction will occur and Adesto’s financing of the acquisition, as well as statements regarding the companies’ products and markets. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including the following, among others: Echelon stockholders may not approve the transaction; closing of the transaction may not occur or may be delayed; expected synergies and other financial benefits of the transaction may not be realized; integration of the acquisition post-closing may not occur as anticipated; litigation related to the transaction may delay or negatively impact the transaction; unanticipated restructuring costs may be incurred or undisclosed liabilities assumed; attempts to retain key personnel and customers may not succeed; the business combination or the combined company’s products may not be supported by third parties; actions by competitors may negatively impact results; and there may be negative changes in general economic conditions in the regions or the industries in which Adesto and Echelon operate. In addition, please refer to the documents that Adesto and Echelon file with the SEC on Forms 10-K, 10-Q and 8-K. These filings identify and address other important risks and uncertainties that could cause events and results to differ materially from those contained in the forward-looking statements set forth in this document. Readers are cautioned not to put undue reliance on forward-looking statements, and Adesto and Echelon assume no obligation and do not intend to update these forward-looking statements, whether as a result of new information, future events or otherwise.
附加信息以及在哪里找到它
Echelon Corporation（“公司”），雷电竞下载app其董事和某些行政人员是与股东与收购公司（“交易”）联系的代理人征集参与者。该公司计雷电竞下载app划提交代理声明（“交易代理声明”）与证券交易委员会（“秒”）有关与交易有关的代理人征集。
Ronald A. Sege, Robert J. Finocchio, Jr., Armas Clifford Markkula, Jr., Robert R. Maxfield and Betsy Rafael, all of whom are members of the Company’s Board of Directors, and C. Michael Marszewski, Vice President and Chief Financial Officer, are participants in the Company’s solicitation. Of such participants, each of Messrs. Markkula, Maxfield and Sege owns in excess of 1% of the Company’s common stock. Additional information regarding such participants, including their direct or indirect interests, by security holdings or otherwise, will be included in the Transaction Proxy Statement and other relevant documents to be filed with the SEC in connection with the Transaction. Information relating to the foregoing can also be found in the Company’s definitive proxy statement for its 2018 Annual Meeting of Stockholders (the “2018 Proxy Statement”), which was filed with the SEC on April 6, 2018. To the extent that holdings of Company’s securities have changed since the amounts printed in the 2018 Proxy Statement, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC.
Promptly after filing its definitive Transaction Proxy Statement with the SEC, the Company will mail the definitive Transaction Proxy Statement and a proxy card to each stockholder entitled to vote at the special meeting to consider the Transaction. STOCKHOLDERS ARE URGED TO READ THE TRANSACTION PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE COMPANY WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain, free of charge, the preliminary and definitive versions of the Transaction Proxy Statement, any amendments or supplements thereto and any other relevant documents filed by the Company with the SEC in connection with the Transaction at the SEC’s website (http://www.sec.gov.）。Copies of the Company’s definitive Transaction Proxy Statement, any amendments or supplements thereto and any other relevant documents filed by the Company with the SEC in connection with the Transaction will also be available, free of charge, at the Company’s website or by writing to Investor Relations, Echelon Corporation, 2901 Patrick Henry Dr., Santa Clara, CA 95054.
Adesto Technologies和Adesto Logo是美国和其他地区的Adesto Technologies商标。Echelon和Echelon Logo是梯队公司的商标，可在美国和其他国家注册。本文提到的其他产品或服务名称是各自所有者的商标。所有其他商标均为其各自所有者的财产。