Pixelworks Announces Expiration and Results of Put Option for 1.75% Convertible Subordinated Debentures Due 2024

Pixelworks, Inc.

, an innovative provider of powerful video and pixel processing technology, announced today the expiration and results of the option of holders of the 1.75% Convertible Subordinated Debentures Due 2024 (the “Notes”) to require Pixelworks to purchase, on May 16, 2011, all or a portion of such holders' Notes (the “Put Option”) at a purchase price in cash equal to 100 percent of the principal amount of the Notes plus any accrued and unpaid interest. The Put Option expired at 5:00 p.m., New York City time, on May 11, 2011.