Emerging Technology

Semtech Corporation and Sierra Wireless Announce Termination of the Waiting Period Under the HSR Act

Closing of the Transaction is now Expected to Occur on or About January 12, 2023

Semtech Corporation (Nasdaq: SMTC) ("Semtech") and Sierra Wireless, Inc. (Nasdaq: SWIR) (TSX: SW) ("Sierra") today announced the termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act").

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230105005923/en/

(Graphic: Business Wire)

(Graphic: Business Wire)

As previously disclosed on October 18, 2022, Semtech and Sierra each received a request for additional information and documentary material (the "Second Request") from the Antitrust Division of the U.S. Department of Justice (the "DOJ") in connection with the DOJ's review of Semtech's pending acquisition of Sierra (the "Transaction"). On January 5, 2023, Semtech and Sierra were notified that the waiting period had been terminated.

The parties currently anticipate that the closing of the Transaction will occur on or about January 12, 2023, subject to the satisfaction (or, to the extent permitted by applicable law, waiver) of the closing conditions set forth in the Arrangement Agreement that by their nature are to be satisfied at the closing of the Transaction.

About Semtech

Semtech Corporation is a leading global supplier of high performance analog and mixed-signal semiconductors and advanced algorithms for infrastructure, high-end consumer and industrial equipment. Semtech's products are designed to benefit the engineering community as well as the global community. Semtech is dedicated to reducing the impact it, and its products, have on the environment. Internal green programs seek to reduce waste through material and manufacturing control, use of green technology and designing for resource reduction. Publicly traded since 1967, Semtech is listed on the Nasdaq Global Select Market under the symbol SMTC. For more information, visit www.semtech.com .

SMTC-F

About Sierra Wireless

Sierra Wireless is a world leading IoT solutions provider that combines devices, network services, and software to unlock value in the connected economy. Sierra Wireless works with its customers to develop the right industry-specific solution for their IoT deployments, whether this is an integrated solution to help connect edge devices to the cloud, a software/API service to manage processes with billions of connected assets, or a platform to extract real-time data to improve business decisions. With more than 25 years of cellular IoT experience, Sierra Wireless is a global partner customers trust to deliver them their next IoT solution. For more information, visit www.sierrawireless.com .

Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended, and "forward-looking information" within the meaning of Canadian securities legislation (collectively, "forward-looking statements"), and is based on management's current expectations, estimates and projections regarding future events. Forward-looking statements are statements other than historical information or statements of current condition and, as used in this press release, relate to matters such as, among others, the consummation of the proposed transaction and the expected timing thereof. Statements containing words such as "may," "believes," "anticipates," "expects," "intends," "plans," "projects," "estimates," "should," "will," "designed to," or "projections," or other similar expressions also constitute forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results and events to differ from those expressed or implied by such forward-looking statements. Potential factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to the risk factors set forth in Semtech's Annual Report on Form 10-K filed with the Securities and Exchange Commission ("the SEC") ( www.sec.gov ) on March 16, 2022 and Sierra's Annual Information Form included as part of Sierra's Form 40-F filed with the SEC on March 18, 2022 and available under Sierra's profile on SEDAR ( www.sedar.com ), in each case, as such risk factors may be updated, amended or superseded from time to time by subsequent reports that Semtech or Sierra files with or furnishes to the SEC. These forward-looking statements are made as of the date of this press release and Semtech and Sierra Wireless assume no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.

Semtech, the Semtech logo and LoRa are registered trademarks or service marks of Semtech Corporation or its subsidiaries.

"Sierra Wireless" is a registered trademark of Sierra Wireless, Inc. Other product or service names mentioned herein may be the trademarks of their respective owners.

Press and Investor Contact

Semtech
Julie McGee
Chief Marketing Officer
jmcgee@semtech.com

Sierra Wireless
Louise Matich
Senior Corporate Communications Lead
pr@sierrawireless.com

Sean Fallis
Vice President, Finance
investor@sierrawireless.com

News Provided by Business Wire via QuoteMedia

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ChatGPT May Already Be Used In Nation State Cyberattacks, Say IT Decision Makers in BlackBerry Global Research

  • 51% of IT decision makers believe there will be a successful cyberattack credited to ChatGPT within the year
  • 95% believe governments have a responsibility to regulate advanced technologies, such as ChatGPT

BlackBerry Limited (NYSE: BB; TSX : BB) today released new research revealing that half (51%) of IT professionals predict that we are less than a year away from a successful cyberattack being credited to ChatGPT and 71% believe that foreign states may already be using the technology for malicious purposes against other nations.

BlackBerry Logo Black (PRNewsfoto/Blackberry Limited)

The survey of 1,500 IT decision makers across North America , UK, and Australia exposed a perception that, although respondents in all countries see ChatGPT as generally being put to use for 'good' purposes, 74% acknowledge its potential threat to cybersecurity and are concerned. Though there are differing views around the world on how that threat might manifest, ChatGPT's ability to help hackers craft more believable and legitimate sounding phishing emails is the top global concern (53%), along with enabling less experienced hackers to improve their technical knowledge and develop more specialized skills (49%) and its use for spreading misinformation (49%).

Shishir Singh , Chief Technology Officer, Cybersecurity at BlackBerry explains: "ChatGPT will likely increase its influence in the cyber industry over time. We've all seen a lot of hype and scaremongering, but the pulse of the industry remains fairly pragmatic – and for good reason. There are a lot of benefits to be gained from this kind of advanced technology and we're only beginning to scratch the surface, but we also can't ignore the ramifications. As the maturity of the platform and the hackers' experience of putting it to use progresses, it will get more and more difficult to defend without also using AI in defense to level the playing field."

Indeed, BlackBerry's research results also revealed that the majority (82%) of IT decision-makers plan to invest in AI-driven cybersecurity in the next two years and almost half (48%) plan to invest before the end of 2023. This reflects the growing concern that signature-based protection solutions are no longer effective in providing cyber protection against an increasingly sophisticated threat.

Whilst IT directors are positive that ChatGPT will enhance cybersecurity for businesses, the survey also revealed that 95% believe governments have a responsibility to regulate advanced technologies.  However, at present, there is an optimistic consensus that technology and research professionals will gain more than cyber criminals from the capabilities of ChatGPT.

Singh concludes: "It's been well documented that people with malicious intent are testing the waters but, over the course of this year, we expect to see hackers get a much better handle on how to use ChatGPT successfully for nefarious purposes; whether as a tool to write better mutable malware or as an enabler to bolster their 'skillset.' Both cyber pros and hackers will continue to look into how they can utilize it best. Time will tell who's more effective."

For more information on how BlackBerry's comprehensive, prevention-first, AI-driven cybersecurity solutions can help your business prepare for, prevent, detect and respond to cyber threats, please visit BlackBerry.com .

Note: Research conducted in January 2023 by OnePoll on behalf of BlackBerry , into 1,500 IT Decision Makers across North America ( USA and Canada ), the United Kingdom and Australia .

About BlackBerry

BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world.  The company secures more than 500M endpoints including over 215M vehicles.  Based in Waterloo, Ontario , the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy solutions, and is a leader in the areas of endpoint management, endpoint security, encryption, and embedded systems.  BlackBerry's vision is clear - to secure a connected future you can trust.

BlackBerry. Intelligent Security. Everywhere.

For more information, visit BlackBerry.com and follow @BlackBerry.

Trademarks, including but not limited to BLACKBERRY and EMBLEM Design are the trademarks or registered trademarks of BlackBerry Limited, and the exclusive rights to such trademarks are expressly reserved.  All other trademarks are the property of their respective owners.  BlackBerry is not responsible for any third-party products or services.

Media Contacts:

BlackBerry Media Relations
+1 (519) 597-7273
mediarelations@BlackBerry.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/chatgpt-may-already-be-used-in-nation-state-cyberattacks-say-it-decision-makers-in-blackberry-global-research-301737059.html

SOURCE BlackBerry Limited

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