Sigma Designs Announces the Engagement of Financial Advisor to Explore Options for Enhancing Stockholder Value
FREMONT, Calif., July 26, 2017 (GLOBE NEWSWIRE) — Sigma Designs® (NASDAQ:SIGM), a leading provider of Smart TV platforms and IoT devices, today announced that its Board of Directors has engaged Deutsche Bank Securities Inc., as a financial advisor to assist in its exploration of strategic alternatives that may enhance stockholder value. As previously disclosed, Sigma has been carefully reviewing all of its product lines to determine which offer the best synergistic fit with its long-term growth plans. This review may result in Sigma continuing to implement value-enhancing initiatives as a standalone company, such as the continued implementation of its previously announced restructuring plans, a sale of the company or certain product lines, or other possible transactions.
No decision has been made to enter into any transaction at this time, and there is no assurance that the Board’s exploration of strategic alternatives will result in any transaction being entered into or consummated. In addition, there is no set timetable for the exploration of strategic alternatives.
Sigma Designs does not intend to disclose developments or provide updates on the progress or status of this process unless it approves a specific transaction requiring disclosure or otherwise completes its review.
About Sigma Designs
Sigma Designs, Inc. (NASDAQ:SIGM) is a world leader in enabling smart home convergence. The company designs and builds the essential semiconductor technologies that serve as the foundation for the world’s leading Connected Smart TV platforms and Internet of Things (IoT) for smart home devices. For more information about Sigma Designs, please visit www.sigmadesigns.com.
Sigma Designs and the Sigma Designs logo are either registered trademarks or trademarks of Sigma Designs, Inc. and its subsidiaries in the United States and other countries. All other trademarks mentioned herein are believed to be trademarks of their respective owners.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 including statements about the exploration of strategic alternatives and the implementation of previously announced restructuring plans. Actual results may vary materially due to a number of factors including, but not limited to, the ability of Sigma to identify and execute strategic alternatives, the risk that its review of strategic alternatives may have unintended consequences, such as the distraction of management, the loss of one or more customers and a negative impact on the retention of employees, as well as other risks that are detailed from time to time in Sigma’s filings with the Securities and Exchange Commission. In particular, see Sigma’s recent quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available online at www.sec.gov and by request from Sigma. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Sigma undertakes no obligation to publicly release or otherwise disclose the result of any revision to these forward-looking statements that may be made as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Investor Relations Contacts: Jim Fanucchi Darrow Associates, Inc. (408) 404-5400 IR@sigmadesigns.com Elias Nader, CFO, SVP & Corporate Secretary Sigma Designs, Inc. IR@sigmadesigns.com