Sigma Designs Licenses Mitsumi as Second Source for Z-Wave Technology
MILPITAS, CA–(Marketwire – May 23, 2011) – Sigma Designs (NASDAQ: SIGM), the leader in connected media platforms, and Mitsumi are pleased to announce that Mitsumi is now a licensed second source for Z-Wave® wireless RF technology, a Sigma Designs technology. As a second source, Mitsumi will independently produce and deliver the popular Z-Wave modules; which will make it easier for large multi-international companies and government businesses that require a second source, to adopt the technology; in-turn, this will lead to market growth, as well as adoption by other standards organizations.
“We welcome Mitsumi as a second source for our Z-Wave product line,” stated Sigma Designs CEO Thinh Tran. “With Mitsumi, we are able to draw upon a wealth of experience, technology and ideas that it possesses as a general electronics component manufacturer. With Mitsumi as a certified second source, we can extend the global acceptance of Z-Wave devices, while continuing the assurance of 100 percent interoperability in the market for all Z-Wave devices.”
As the de facto standard for home area networks, Sigma Designs’ Z-Wave is the first technology to bring affordable, reliable and easy-to-use wireless control to every aspect of daily life, including home monitoring and security, home control, entertainment control, healthcare, and energy management. Z-Wave is an award-winning, proven and interoperable wireless mesh networking technology that allows a wide array of devices in and around the home to communicate including lighting, appliances, HVAC, entertainment centers and security systems.
“We are pleased to be able to offer modules based upon Sigma’s Z-Wave technology,” says Fujio Furukawa, Vice President at Network Devices Business HQ of Mitsumi. “The market for Z-Wave is booming and we want to capitalize on Z-Wave’s global potential. Further, we are very excited to drive Z-Wave further in the Japanese market where the interest in Z-Wave technology has great potential for energy reduction applications.”
During recent months the global range of home control devices equipped with the Z-Wave wireless standard has increased to approximately 450 products offered by more than 170 manufacturers around the world. The creation of interconnected smart metering products, in particular, continues to be promoted by members of the Z-Wave Alliance, with the aim of providing further environmentally friendly energy management systems for domestic households. For more information on Z-Wave, please go to www.z-wave.com.
About Mitsumi Electric Co., Ltd.
Mitsumi is a global company that was founded in 1954 and is headquartered in Tama, Japan. Since its inception Mitsumi has been committed to the innovative development and manufacturing of a wide array of components that are used in electronic devices manufactured by the premier names in automotive, consumer, and industrial electronics. As it navigates through the future, Mitsumi is dedicated to the continual advancement of technologies centered around radio frequency, electro-mechanical devices, and micro manufacturing. For more information about Mitsumi, please visit www.mitsumi.co.jp/index_e.html
About Sigma Designs, Inc.
Sigma Designs, Inc. (NASDAQ: SIGM) is a world leader in connected media platforms. The company designs and builds the essential semiconductor technologies that serve as the foundation for the world’s leading IPTV set-top boxes, connected media players, residential gateways, home control systems and more. 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 potential benefits of a second source for Z-Wave technology, anticipated benefits of the relationship with Mitsumi, the potential impact the sourcing deal will have on future revenues or the likelihood this relationship will play in the market adoption of Z-Wave as a technology. Actual results may vary materially due to a number of factors including, but not limited to: general economic conditions, including continuance of the current economic conditions specific to the semiconductor industry, the rate of growth of the smart grid, connected home technologies, connected media player and prosumer and industrial audio/video markets in general as well as other risks that are detailed from time to time in Sigma’s SEC reports, including its annual report on Form 10-K as filed on March 28, 2011. 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.
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