Adesto® Announces Completion of CFIUS Review for Proposed Acquisition of Adesto by Dialog Semiconductor
June 22 2020 - 9:15AM
Adesto Technologies Corporation (NASDAQ: IOTS), a leading provider
of innovative application-specific semiconductors and embedded
systems for the IoT, announces that in connection with the pending
acquisition of Adesto by Dialog Semiconductor plc (XETRA:DLG), the
parties have been informed by the Committee on Foreign Investment
in the United States (CFIUS) that CFIUS has completed its review of
the pending acquisition and determined that there are no unresolved
national security concerns with respect to the proposed
transaction. The parties expect the transaction to close on June
29, 2020, subject to customary closing conditions.
About Adesto Technologies Corp.Adesto
Technologies Corporation (NASDAQ:IOTS) is a leading provider of
innovative application-specific semiconductors and embedded systems
for the Industrial IoT. The company’s technology is used by a broad
industrial customer base worldwide. With its growing portfolio of
high-value technologies, Adesto is helping its customers usher in
the era of the Internet of Things.
For more information, visit www.adestotech.com or follow
Adesto on Twitter.
Forward-Looking Statements
This press release contains “forward-looking” statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, that involve risks and uncertainties. In some cases, you
can identify these forward-looking statements by the use of terms
such as “expect,” “will,” “continue,” or similar expressions, and
variations or negatives of these words, but the absence of these
words does not mean that a statement is not forward-looking. All
statements other than statements of historical fact are statements
that could be deemed forward-looking statements, including, but not
limited to: any statements regarding the expected timing of the
completion of the transaction described in this press release; the
ability of Dialog Semiconductor plc (“Dialog”) and Adesto
Technologies Corporation (“Adesto”) to complete the proposed
transaction considering the various conditions to the transaction,
some of which are outside the parties’ control, including those
conditions related to regulatory approvals; any other statements of
expectation or belief; and any statements of assumptions underlying
any of the foregoing. These forward-looking statements are
inherently uncertain, and are based on information available as of
the date hereof and current expectations, forecasts, estimates, and
assumptions. A number of important factors and uncertainties could
cause actual results or events to differ materially from those
described in these forward-looking statements, including without
limitation: the failure to satisfy or waive any of the conditions
to the consummation of the proposed transaction, including the
receipt of certain governmental and regulatory approvals; matters
arising in connection with the parties’ efforts to comply with and
satisfy applicable regulatory approvals and closing conditions
relating to the proposed transaction; the risk that the proposed
transaction does not close when anticipated or at all; the effects
of disruption from the transactions contemplated by the Merger
Agreement on Adesto’s business and the fact that the announcement
and pendency of the transaction may make it more difficult to
establish or maintain relationships with employees, suppliers and
other business partners; the occurrence of any event, change or
other circumstance that could give rise to the termination of the
Merger Agreement; the outcome of any legal proceedings that may be
instituted against Adesto or Dialog related to the Merger Agreement
or the proposed transaction; unexpected costs, charges or expenses
resulting from the proposed transaction; the occurrence of a
Material Adverse Effect (as defined in the Merger Agreement); and
other risks that are described in the reports of Adesto filed with
the Securities and Exchange Commission (the “SEC”), including but
not limited to the risks described in Adesto’s Annual Report on
Form 10-K for its fiscal year ended December 31, 2019, which was
filed with the SEC on March 16, 2020, and Adesto’s Quarterly
Reports on Form 10-Q, and that are otherwise described or updated
from time to time in other filings with the SEC. All
forward-looking statements attributable to Adesto, or persons
acting on behalf of Adesto, are expressly qualified in their
entirety by this cautionary statement. Further, Adesto disclaims
any obligation to update the information in this communication or
to announce publicly the results of any revisions to any of the
forward-looking statements to reflect future events or
developments, except as otherwise required by law. Readers are
cautioned not to place undue reliance on these forward-looking
statements that speak only as of the date hereof.
Adesto and the Adesto logo are trademarks or registered
trademarks of Adesto Technologies Corporation or its subsidiaries
in the United States and other countries. Other company, product,
and service names may be trademarks or service marks of others.
Adesto Technologies Media Contact:Jen
Bernier-Santarini650-336-4222jen.bernier@adestotech.com
Adesto Technologies Investor Relations:Leanne
K. SieversShelton Group949-224-3874sheltonir@sheltongroup.com
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