ISSI Stockholders Approve Acquisition by Uphill

MILPITAS, Calif., June 29, 2015 /PRNewswire/ -- Integrated Silicon Solution, Inc. (ISSI), a global fabless semiconductor company, today reported that its stockholders approved the acquisition of ISSI by Uphill Investment Co. (Uphill) for $23.00 per share in cash pursuant to the merger agreement between ISSI and Uphill dated as of March 12, 2015, as amended. 

ISSI and Uphill expect the acquisition to close in the third calendar quarter of 2015 upon the satisfaction of the remaining closing conditions including completion of the restructuring of ISSI's operations in Taiwan and obtaining approval of the transaction by the Committee on Foreign Investment in the United States (CFIUS).

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.  

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 expected closing date of the transaction with Uphill 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 ability to satisfy and the timing of the satisfaction of the closing conditions in the Uphill merger agreement (including regulatory approvals), 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 March 31, 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.

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SOURCE Integrated Silicon Solution, Inc.