Atmel Announces Additional $300 Million to Stock Repurchase Program

The program authorizes the purchase of Atmel common stock in the open market depending upon market conditions and other factors. The program does not have an expiration date. The number of shares repurchased and the timing of repurchases will be based on the level of cash balances, general business and market conditions, regulatory requirements and other factors, including alternative investment opportunities.

The addition of $300 million to our current program reflects the strength in our business and our ongoing confidence in our outlook for the company, said Stephen Cumming, Atmel's Vice President and Chief Financial Officer.