UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
(Amendment No. __)
Filed by the Registrant x
Filed by a Party other than the Registrant ¨
Check the appropriate box:
¨ | Preliminary Proxy Statement |
¨ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
¨ | Definitive Proxy Statement |
¨ | Definitive Additional Materials |
x | Soliciting Material Under Section 240.14a-12 |
Atheros Communications, Inc.
(Name of Registrant as Specified in Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
x | No fee required. |
¨ | Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. |
(1) | Title of each class of securities to which transaction applies: |
(2) | Aggregate number of securities to which transaction applies: |
(3) | Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11: |
(4) | Proposed maximum aggregate value of transaction: |
(5) | Total fee paid: |
¨ | Fee paid previously with preliminary materials. |
¨ | Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. |
(1) | Amount Previously Paid: |
(2) | Form, Schedule or Registration Statement No.: |
(3) | Filing Party: |
(4) | Date Filed: |
Filed by Atheros Communications, Inc.
Pursuant to Rule 14a-12 under the Securities Exchange Act of 1934
Subject Company: Atheros Communications, Inc.
Commission File No.: 0-50534
Qualcomm Acquisition of Atheros
Customer Discussions
Qualcomm Acquisition of Atheros
Customer Discussions
January 5, 2011 |
Safe
Harbor Statement Safe Harbor Statement
2
Note on Forward-Looking Statements
Certain statements in this presentation, including, but not limited to, statements regarding the
expected benefits and costs of the transaction; the expected timing of the completion of the
transaction; any statements of the plans, strategies and objectives of management for future
operations; and any statements of assumptions underlying any of the foregoing are
forward-looking statements within the meaning of the Private Securities Reform Act of 1995
that are subject to risks and uncertainties that could cause results to be materially different than
those discussed in these forward-looking statements. These risks and uncertainties include,
but are not limited to, the risk that the anticipated benefits of the proposed merger may not
be realized; that the merger will not be consummated; failure to receive regulatory or
stockholder approval for the acquisition; risks associated with acquisitions, including the
ability to successfully integrate technologies, employees and operations; diversion of
managements attention and retaining key employees; and other risks detailed from time to
time in the reports Atheros files with the Securities and Exchange Commission including
Atheros Form 10-K for the year ended December 31, 2009 and Form 10-Q for the
quarter ended September 30, 2010. Copies of reports Atheros files with the SEC are posted on its Web site
and are available from Atheros without charge. These forward-looking statements are not
guarantees of future performance and speak only as of the date hereof, and, except as required
by law, Atheros disclaims any obligation to update these forward-looking statements to
reflect future events or circumstances. |
Important Additional Information and Where You Can Find It
Important Additional Information and Where You Can Find It
3
Atheros will file a proxy statement with the Securities and Exchange Commission (the SEC)
in connection with the proposed transaction (the Merger). Investors and
stockholders are urged to read the proxy statement when it becomes available and any other
relevant documents filed with the SEC because they will contain important information regarding
QUALCOMM, Atheros, the proposed Merger, the persons soliciting proxies in connection with the
proposed Merger on behalf of Atheros and the interests of those persons in the proposed Merger
and related matters. Atheros intends to mail the proxy statement to its stockholders as
soon as practicable. Investors and stockholders will be able to obtain a copy of the
proxy statement (when available) and other documents filed by Atheros with the SEC free of
charge at the Web site maintained by the SEC at http://www.sec.gov. In addition,
documents filed with the SEC by Atheros are available free of charge by contacting Atheros Investor
Relations (David Allen, 408-830-5762). Participants in Solicitation
Atheros, and its directors, executive officers, and employees may be deemed to be participants in the
solicitation of proxies from the Atheros stockholders in connection with the proposed Merger
and related items. Information regarding the directors and executive officers of Atheros
and their ownership of Atheros stock is set forth in Atheros proxy statement for
Atheros 2010 annual meeting of stockholders, which was filed with the SEC on April 7,
2010. Additional information regarding the persons who may, under the rules of the SEC,
be deemed participants in the solicitation of proxies in connection with the proposed
transaction, and a description of their direct and indirect interests in the proposed
transaction, which may differ from the interests of Atheros stockholders generally, will be set
forth in the proxy statement to be filed in connection with the proposed Merger. Investors may obtain
additional information regarding the interests of those participants by reading the proxy
statement when it becomes available. |
Agenda
Agenda
4
Transaction Terms
Strategy and Value Proposition
Culture
Q & A
Summary
4
The
Companies |
The Companies
The Companies
5
5
A leader in next generation mobile
chipsets and technologies
Year founded: 1985
Headquarters: San Diego, CA
Product lines:
3G and 4G cellular technologies
Multi-core Snapdragon®
applications processors
Multimedia processors
3D graphics
Femtocell
technologies
Display technologies
Employees: ~17,500
Annual revenue: ~$11B in FY2010
Innovative technologies for wireless
and wired communications
Year founded: 1998
Headquarters: San Jose, CA
Product lines:
WLAN
Networking & Computing
Mobile WLAN
Ethernet
GPS
Bluetooth
Powerline
PON
Employees: ~1,700
Annual revenue: ~$900M+ in FY2010 |
Transaction Terms
Transaction Terms
6
One of the largest fabless
semiconductor acquisitions
in the industrys history
Transaction
Value
Whats Next?
Consideration of $45 per share in cash
Total equity value of ~$3.5B and enterprise value (less cash) of
~$3.1B
Anticipated closing
first half of 2011
Until closed, Atheros
continues to operate as an independent
company
Continued focus on execution |
Enabling Richer Customer
Solutions Enabling Richer Customer Solutions
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Expand Qualcomms semiconductor business into new
adjacent markets and build a more comprehensive
connectivity solutions roadmap.
Expanding scale & capability
Driving innovation, performance, time-to-market and cost advantages
Bringing two leaders together
Combines the strengths of Qualcomm, the leading provider of mobile chipsets
and wireless WAN technology with Atheros, a leader in wired and wireless LAN
connectivity
For richer customer solutions
Complementary strengths will bring significant benefits to our customers:
integrated, comprehensive platform offerings for multiple markets
Accelerating the Internet of everything
A shared vision that virtually all things will be connected, enabling converged
experiences across devices and physical boundaries, including mobile cellular &
consumer electronics, computing, home & enterprise networks, home consumer
electronics, broadband access & backhaul, smart grid & smart home
+ |
Team Strength and Cultural
Fit Team Strength and Cultural Fit
Complementary technologies, customer channels and business ethic
Uniting significant talent and skills to drive connectivity leadership
A strong and tested collaboration between Qualcomm and Atheros
since 2005
Engineering-driven cultures with track records of strong execution
Focused on enabling customer success
Qualcomm: Fortune 100, 10 Great Places to work the past 12 years
8 |
What Does This Mean for
Customers? What Does This Mean for Customers?
Products & technology leadership in wireless and wired connectivity
Ability to provide more comprehensive system level solutions to our
customers
Ability to leverage the significant R&D capability of the combined
Qualcomm and Atheros technologies in your products
Continued focus on providing world-class service and support
We want to help our customers WIN in the market
9 |
Summary
Summary
Atheros
will become bigger and stronger, and will have many more resources
Much greater ability to drive our combined success
Until close, its business as usual
10
An exceptional way to accelerate toward our goal of
becoming a diversified communications company |
11
T H A N K Y O U !
T H A N K Y O U ! |
Additional Information and Where to Find It
Atheros will file a proxy statement with the Securities and Exchange Commission (the SEC) in connection with the proposed merger with T Merger Sub, Inc. (the Merger), pursuant to which Atheros would be the surviving corporation and become a wholly owned subsidiary of Qualcomm. Investors and stockholders are urged to read the proxy statement when it becomes available and any other relevant documents filed with the SEC because they will contain important information regarding Qualcomm, Atheros, the proposed Merger, the persons soliciting proxies in connection with the proposed Merger on behalf of Atheros and the interests of those persons in the proposed Merger and related matters. Atheros intends to mail the proxy statement to its stockholders as soon as practicable. Investors and stockholders will be able to obtain a copy of the proxy statement (when available) and other documents filed by Atheros with the SEC free of charge at the Web site maintained by the SEC at http://www.sec.gov. In addition, documents filed with the SEC by Atheros are available free of charge by contacting Atheros Investor Relations (David Allen, 408-830-5762).
Participants in Solicitation
Atheros, and its directors, executive officers, and employees may be deemed to be participants in the solicitation of proxies from the Atheros stockholders in connection with the proposed Merger and related items. Information regarding the directors and executive officers of Atheros and their ownership of Atheros stock is set forth in Atheros proxy statement for Atheros 2010 annual meeting of stockholders, which was filed with the SEC on April 7, 2010. Additional information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of proxies in connection with the proposed transaction, and a description of their direct and indirect interests in the proposed transaction, which may differ from the interests of Atheros stockholders generally, will be set forth in the proxy statement to be filed in connection with the proposed Merger. Investors may obtain additional information regarding the interests of those participants by reading the proxy statement when it becomes available.
Note on Forward-Looking Statements
Certain statements in this communication, including, but not limited to, statements regarding the expected benefits and costs of the transaction; the expected timing of the completion of the transaction; any statements of the plans, strategies and objectives of management for future operations; and any statements of assumptions underlying any of the foregoing are forward-looking statements within the meaning of the Private Securities Reform Act of 1995 that are subject to risks and uncertainties that could cause results to be materially different than those discussed in these forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that the anticipated benefits of the proposed merger may not be realized; that the merger will not be consummated; failure to receive regulatory or stockholder approval for the acquisition; risks associated with acquisitions, including the ability to successfully integrate technologies, employees and operations; diversion of managements attention and retaining key employees; and other risks detailed from time to time in the reports Atheros files with the Securities and Exchange Commission including Atheros Form 10-K for the year ended December 31, 2009 and Form 10-Q for the quarter ended September 30, 2010. Copies of reports Atheros files with the SEC are posted on its Web site and are available from Atheros without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, Atheros disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.