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PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

SiTime Continues Leadership in MEMS Timing Market with 2 Billion Units Shipped

December 15, 2020 GMT

SANTA CLARA, Calif.--(BUSINESS WIRE)--Dec 15, 2020--

SiTime Corporation (NASDAQ: SITM), a market leader in MEMS timing, today announced that it has cumulatively shipped 2 billion units of its silicon MEMS timing solutions.

Over a decade ago, SiTime saw the opportunity to siliconize the timing industry. New electronics, driven by the consumer’s need for omnipresent connectivity and faster data speeds, needed more stringent timing, especially in harsh environmental conditions, which current technologies could not deliver. Applications such as 5G, cloud, automated driving, and IoT emerged, and the need for SiTime solutions grew rapidly. Today, SiTime is the only company that is solely focused on timing and has overcome the challenges of delivering high-reliability timing solutions in high volume.

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“I’m very proud of the SiTime team that has dedicated years of focus, passion, and commitment to success to deliver this significant milestone,” said Rajesh Vashist, CEO of SiTime. “As the world becomes more connected, precision timing will play a critical role in 5G, cloud, automotive, and IoT applications. SiTime will continue to provide differentiated timing solutions for these applications and deliver value to our customers.”

“We’ve expanded our executive team with industry leaders who have delivered success in adverse conditions,” continued Vashist. “Earlier this year, Vince Pangrazio joined SiTime as EVP and Chief Legal Officer. More recently, Atul Shingal joins us as EVP of Operations, and Fari Assaderaghi returns to SiTime as EVP of Technology and Engineering. We look forward to their meaningful contributions to the future of SiTime.”

Vince Pangrazio – EVP, Chief Legal Officer, and Corporate Secretary

Vince brings over 25 years of senior legal management experience to SiTime. In the past, Vince was an executive at Cavium, Inc., where he was responsible for the legal, compliance, IT, and facilities functions and was part of the senior management team that sold it to Marvell for $6 billion. Prior to Cavium, Vince was a partner at Cooley. View full profile.

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Atul Shingal – EVP of Operations

Atul brings 35 years of leadership in operations, test, product, package engineering, and quality management to SiTime. Atul joins SiTime from Qorvo and Cavendish Kinetics, where he was EVP of Operations since 2011. Prior to Qorvo, Atul was VP of Operations at Inphi Corporation. View full profile.

Fari Assaderaghi – EVP, Technology and Engineering

Fari brings over 25 years of senior technology and engineering experience to SiTime, including being Senior VP of Engineering and Operations from 2008 to 2012. Between 2012 and 2020, Fari was Vice President, Advanced Technology Development at TDK Invensense and SVP of Innovation and Advanced Technologies at NXP. View full profile.

About SiTime

SiTime Corporation is a market leader in silicon MEMS timing. Our programmable solutions offer a rich feature set that enables customers to differentiate their products with higher performance, smaller size, lower power, and better reliability. With over 2 billion devices shipped, SiTime is changing the timing industry. For more information, visit https://www.sitime.com/.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201215005450/en/

CONTACT: Green Flash Media for SiTime

Jeremy Hyatt

pr@gflashmedia.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY HARDWARE SEMICONDUCTOR CONSUMER ELECTRONICS

SOURCE: SiTime Corporation

Copyright Business Wire 2020.

PUB: 12/15/2020 09:05 AM/DISC: 12/15/2020 09:05 AM

http://www.businesswire.com/news/home/20201215005450/en