STMicroelectronics completes acquisition of Genesis Microchip

January 28, 2008 – STMicroelectronics has announced that it has completed the takeover of Genesis Microchip, enhancing STMicroelectronics’ technological capabilities for the transition to fully digital solutions in the TV market.

Genesis Microchip is to be integrated into STMicroelectronics’ Home Entertainment & Displays Group, and Genesis CEO Elias Antoun has joined STMicroelectronics and will lead STMicroelectronics’ television and display initiatives, reporting to Philippe Lambinet, Corporate Vice President and General Manager of STMicroelectronics’ Home Entertainment & Displays Group.

“STMicroelectronics is a leader in digital consumer technologies, with a strong position in set-top box compression and decompression technologies and ‘front end’ processing technologies in digital TV,” said Mr. Lambinet.  “Now that we have combined the two companies, ST will have the products, technology, IP and expertise to offer best-in-class integrated DTV solutions that our customers are increasingly demanding.”

A total of 34.2mn shares of Genesis common stock, representing 89.1% of the outstanding common stock of Genesis, have been tendered to STMicroelectronics, according to Mellon Investor Services, the depositary for the tender offer.