ISSI Provides Update on CFIUS Review
MILPITAS, Calif., Sept. 16, 2015 /PRNewswire/ -- Integrated Silicon Solution, Inc. (Nasdaq: ISSI) announced today that the Committee on Foreign Investment in the United States ("CFIUS") has extended the initial 30 day review period of ISSI's pending acquisition by Uphill Investment Co. ("Uphill") into the 45 day investigation period. CFIUS has indicated that the investigation will be completed no later than November 2, 2015. ISSI and Uphill continue to believe that the approval from CFIUS will be obtained.
ISSI expects that the closing of the merger with Uphill will occur in the fourth calendar quarter of 2015.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements concerning the belief that the required approval from CFIUS will be obtained and expecting that the closing of the merger will occur in the fourth calendar quarter of 2015 are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include the timing and ability to obtain regulatory approval from CFIUS, the satisfaction of the other closing conditions in the Uphill merger agreement (including the timing and ability to obtain regulatory approvals in Taiwan and China), the outcome of any existing or future litigation involving the acquisition transaction or other risks listed from time to time in ISSI's filings with the SEC, including ISSI's Form 10-K for the year ended September 30, 2014 and Form 10-Q for the quarter ended June 30, 2015. ISSI assumes no obligation to update or revise the forward-looking statements in this press release because of new information, future events, or otherwise.
About ISSI
ISSI is a fabless semiconductor company that designs and markets high performance integrated circuits for the following key markets: (i) automotive, (ii) communications, (iii) industrial, and (iv) digital consumer. ISSI's primary products are high speed and low power SRAM and low, and medium and high density DRAM. ISSI also designs and markets NOR flash products and high performance analog and mixed signal integrated circuits. ISSI is headquartered in Silicon Valley with worldwide offices in Taiwan, Japan, Singapore, China, Europe, Hong Kong, India, and Korea. Visit ISSI's web site at www.issi.com.
SOURCE Integrated Silicon Solution, Inc.
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