Cypress Strengthens Internet of Things Leadership with Cirrent Software Offering

Cypress Semiconductor Corp. (NASDAQ: CY), the embedded solutions leader, today announced that it has expanded its portfolio of Internet of Things (IoT) solutions with the addition of Cirrent, a leading provider of software and cloud services for consumer Wi-Fi^® products. IoT companies use Cirrent’s software and cloud services to make their products easier to use, more reliable, and more secure.

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"Cirrent helps users bring their IoT products online quickly and keep them connected, solving two of the biggest barriers to the broader proliferation of IoT products,” said Hassane El-Khoury, Cypress’ president and CEO. "Providing valuable and differentiated software is a core part of Cypress’ strategy. The addition of Cirrent strengthens our position to expand our software services revenue by bringing on their talented team of engineers, building on their scalable cloud platform, and embracing their relationships with the large internet-service providers and leading IoT product companies.”

As more and more homes become smart and more devices get connected to the home’s Wi-Fi network, the user experience needs to be intuitive and seamless. Cirrent’s software allows IoT products to easily connect to a customer’s home network and stay connected, providing an outstanding user experience and significant return on investment to product manufacturers by reducing support costs and product returns. Cirrent’s software lets users set up products without typing in passwords and ensures products stay connected even when network names and passwords are changed. As more companies develop business models and revenue streams enabled by connectivity, the increase in the connection rate from using Cirrent’s solution directly creates business value for customers.

Cirrent’s ZipKey^® Wi-Fi Onboarding and IoT Network Intelligence solutions are available today for companies making connected products with a wide variety of Wi-Fi chips and operating systems.

Rob Conant, the founder of Cirrent and its general manager, stated: "We started Cirrent to improve the Wi-Fi experience for connected products, and with partners like Comcast and Electrolux, we’ve built momentum towards achieving this vision. Joining Cypress through an acquisition back in August was the next step on our mission to bring these capabilities to more products across more markets. Cypress shares our desire to continually improve the end-user experience and has decades of experience making technology simple and mainstream.”

"Cirrent raises the bar on Wi-Fi user experience for connected products. Adding Cirrent technology to automate Wi-Fi provisioning improves both the customer experience and the security of all the Wi-Fi products in the home, which benefits both network operators and consumers," said Arsham Hatambeiki, Senior Vice President of Product and Technology at Universal Electronics Inc. (UEI).

"Half of the consumers experience problems when setting up smart home products,” said Tom Kerber, Senior Director, IoT Strategy, at Parks Associates. "Difficulty connecting devices to the internet has remained the leading issue facing consumers over the past three years. Every manufacturer must provide solutions that eliminate these problems for consumers.”

About Cirrent

Cirrent, a provider of automatic, secure Wi-Fi connections for consumer electronics, makes it easy for manufacturers to transform the out-of-box experience through ZipKey and the support of the broader Cirrent ecosystem. Through partnerships with large Internet service providers such as Comcast Cable, Cirrent has established a network of ZipKey hotspots that now cover more than 120 million homes. For more information, or to experience a demo, please visit www.cirrent.com.

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About Cypress

Cypress is the leader in advanced embedded solutions for the world’s most innovative automotive, industrial, smart home appliances, consumer electronics and medical products. Cypress’ microcontrollers, wireless and USB-based connectivity solutions, analog ICs, and reliable, high-performance memories help engineers design differentiated products and get them to market first. Cypress is committed to providing customers with the best support and development resources on the planet enabling them to disrupt markets by creating new product categories in record time. To learn more, go to www.cypress.com.

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Cypress and the Cypress logo are registered trademarks of Cypress Semiconductor Corp. ZipKey is a registered trademark of Cirrent, Inc. All other trademarks are property of their respective owners.

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