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STMicroelectronics Announces its Next Step in Multimedia Convergence

GENEVA April 23, 2012

ST signed an agreement with ST-Ericsson on the development of future application processors. Under the terms of the agreement, ST will take on ST-Ericsson’s application processor development R&D activity and then license back its technology to ST-Ericsson for integration into their ModAps (competitive integrated modem plus application processor solutions) for smartphones and tablets. Additionally, the two companies entered into a commercial agreement to jointly promote and offer stand-alone application processors and thin modems to a broader range of customers working across the entire spectrum of electronics applications.

July 1, 2012

$320 million

Philippe Lambinet

"This is a further major step forward in our ambition for undisputed leadership in multimedia convergence, one of the two pillars of our vision together with Sense and Power," said Carlo Bozotti, president and CEO of STMicroelectronics. "By partnering with ST-Ericsson in such a critical and R&D-intensive domain, we are able to leverage our investments over a wider range of applications and market opportunities, while capturing significant synergies benefiting both ST-Ericsson and ST. Overall, the agreement announced today well positions ST and ST-Ericsson for future success in application processors.  In addition, ST, as a shareholder of ST-Ericsson, will benefit from the joint venture’s new strategic plan and expected cost savings."

The closing of the deal is subject to completion of labor law related procedures and merger-control approvals, if applicable.   

Forward Looking Statement

In addition to the historical information contained herein, this news release contains statements of future expectations and other forward looking statements (within the meaning of Section 27.A of the Securities Act of 1933 or Section 21E of the Securities Exchange Act of 1934, each as amended) that are based on management’s current views and assumptions and therefore inherently subject to risks and uncertainties.

Without limitation, the rapid evolution of technologies and demand for digital products in the very competitive wireless, tablets, consumer and automotive markets in which we operate, and the uncertainty of global and regional economic conditions and their impact on our business, are amongst the factors which could cause our actual results, performance or events to differ materially from those anticipated in forward looking statements.

31 December, 2011 March 5, 2012

We do not intend, do not assure any obligation to update, or continue to provide information with respect to any forward looking statement on risk factor, whether as a result of new information, future or subsequent events, circumstances or otherwise.

$9.73 billion

SOURCE STMicroelectronics

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