Microchip Technology Announces Receipt of Antitrust Clearance from China for SMSC Acquisition

Microchip Technology Incorporated

announced that it has received notice of clearance of its previously announced acquisition of Standard Microsystems Corporation (SMSC) from the Anti-Monopoly Bureau of the Ministry of Commerce of the People's Republic of China. “We are pleased that receiving the confirmation from MOFCOM completes all of the regulatory approvals for the transaction to acquire SMSC,” said Steve Sanghi, President and CEO. “We anticipate the closing of the transaction to take place on August 2, 2012, and moving forward in achieving the business goals of the combined companies.”