STMicroelectronics Announces Sale of the ST-Ericsson Mobile Connectivity Global Navigation Satellite System (GNSS) Business

STMicroelectronics Announces Sale of the ST-Ericsson Mobile Connectivity Global 
Navigation Satellite System (GNSS) Business 
GENEVA -- (Marketwired) -- 05/28/13 --  STMicroelectronics (NYSE:
STM), a global semiconductor leader serving customers across the
spectrum of electronics applications, today announced that
ST-Ericsson, a 50-50 joint venture with Ericsson, has sold the assets
and intellectual property rights (IPR) associated with its
mobileconnectivity Global Navigation Satellite System (GNSS) business
and distributed the press release below. 
About STMicroelectronics 
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market serving customers across the spectrum of sense and power
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management and savings to trust and data security, from healthcare
and wellness to smart consumer devices, in the home, car and office,
at work and at play, ST is found everywhere microelectronics make a
positive and innovative contribution to people's life. By getting
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ST-Ericsson announces sale of its Connectivity [GNSS] business 
Geneva, May 28, 2013. ST-Ericsson, a joint venture of
STMicroelectronics (NYSE: STM) and Ericsson (NASDAQ: ERIC), today
announced the signature of a definitive agreement to sell the assets
and intellectual property rights (IPR) associated with its mobile
connectivity Global Navigation Satellite System (GNSS) business to a
leading semiconductor company. 
The sale of these assets represents another step in the execution of
Ericsson's and ST's announcement of March 18th 2013. In addition to
the assets and IPR associated with this business, a world class team
of 130 industry veterans located in Daventry (UK), Bangalore (India)
and Singapore are anticipated to join the buyer at closing of the
The closing of the transaction is subject to regulatory approvals and
standard conditions and is expected to be completed in August, 2013.
ST-Ericsson estimates the proceeds from the sale, combined with the
avoidance of employee restructuring charges and other related
restructuring costs, will reduce the joint venture's cash needs by
approximately $90 million. 
"Today's transaction validates the leading innovation developed by
ST-Ericsson in mobile navigation systems and marks a further
important step towards the execution of our shareholders' decision to
exit from ST-Ericsson" commented Carlo Ferro, President and CEO of
ST-Ericsson. "I am pleased that this organization will continue to
develop leading-edge technologies and delighted that the team found a
new home at a leading player in the semiconductor industry." 
About ST-Ericsson
 ST-Ericsson is a world leader in developing and
delivering a complete portfolio of innovative mobile platforms and
cutting-edge wireless semiconductor solutions across the broad
spectrum of mobile technologies. ST-Ericsson was established as a
50/50 joint venture by STMicroelectronics (NYSE: STM) and Ericsson
(NASDAQ: ERIC) in February 2009, with headquarters in Geneva,
This press release contains forward-looking statements that involve
inherent risks and uncertainties. We have identified certain
important factors that may cause actual results to differ materially
from those contained in such forward-looking statements. For a
detailed description of risk factors see STMicroelectronics' (NYSE:
STM) and Ericsson's (NASDAQ: ERIC) filings with the US Securities and
Exchange Commission, particularly each company's latest published
Annual Report on Form 20-F. 
ST on STE GNSS business sale:  
For further information, please contact:
Tait Sorensen 
Group VP, Investor Relations
Tel: +1 602 485 2064 
Nelly Dimey 
Director, Corporate Media and Public Relations
Tel: +33 1 58 07 77 85 
Ericsson Corporate Communications 
Phone: +46 10 719 69 92 
Ericsson Investor Relations
Phone: +46 10 719 00 00
STMicroelectronics Investor Relations
Tait Sorensen
Phoenix AZ, US
Phone: +1 602 485 2064 
Celine Berthier
Geneva, Switzerland
Phone: +41 22 929 5812
STMicroelectronics Media Relations
Nelly Dimey
Paris, France 
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