Sigma Designs, a leading provider of Smart TV platforms and IoT devices, today announced that its Board of Directors has engaged Deutsche Bank Securities Inc., as a financial advisor to assist in its exploration of strategic alternatives that may enhance stockholder value.
As previously disclosed, Sigma has been carefully reviewing all of its product lines to determine which offer the best synergistic fit with its long-term growth plans. This review may result in Sigma continuing to implement value-enhancing initiatives as a standalone company, such as the continued implementation of its previously announced restructuring plans, a sale of the company or certain product lines, or other possible transactions.
No decision has been made to enter into any transaction at this time, and there is no assurance that the Board’s exploration of strategic alternatives will result in any transaction being entered into or consummated. In addition, there is no set timetable for the exploration of strategic alternatives.
Sigma Designs does not intend to disclose developments or provide updates on the progress or status of this process unless it approves a specific transaction requiring disclosure or otherwise completes its review.