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Cypress Semiconductor Selects Appnomic Systems as Strategic IT Vendor

Cypress Leverages Appnomic's IT Automation Technologies and Services

SANTA CLARA, CA -- (Marketwired) -- 06/03/14 -- Cypress Semiconductor (NASDAQ: CY), a leading and long standing semiconductor company in Silicon Valley, today, announces the selection of Appnomic Systems to be among the enterprise's leading IT technology services providers for Cypress' global IT and network infrastructure operations.

After more than four years of leveraging Appnomic's RIMS+ solutions (technology-enabled Remote Infrastructure Managed Services) that include preventive automation technologies, Cypress has already automated multiple IT operations processes, improved revenue gains by hundreds of thousands of dollars per quarter, reduced systems error rates by over 70%, achieved compelling compliance risk reduction, reduced process cycle times, and increased process quality. All this has been accomplished while reducing costs associated with Appnomic supported operations by over 30% in the last year.

After Cypress' internal IT operations department and Appnomic collaborated to deliver the best IT operations performance at Cypress in recent history, Cypress decided to enter into this relationship announced today. This announcement takes Cypress' implementation of Appnomic's unique preventive approach to eliminate IT operations incidents to the next level of maturity.

Appnomic provides Cypress with IT Process Automation (ITPA) software as well as competitively priced technology-enabled managed services called RIMS+. At the core of RIMS+ is Appnomic's unique ITPA and data center automation platform, OpsOne. OpsOne enables Appnomic to complement talented technical professionals with automation to deliver enterprise process automation benefits to Cypress. As this technology is bundled into the Appnomic RIMS+ solution, Cypress does not pay for expensive enterprise software licenses, train staff how to use the software, or allocate expensive IT professionals to support the software.

"After more than four years of working together and with Appnomic's recent investments in the U.S. market, Cypress Semiconductor is convinced that Appnomic has the technology, the management leadership, the cost structure, and the managed service delivery capabilities required to continue to achieve the high bar of excellence we expect from our vendors -- at world class costs," said Venki Sundaresan, Senior Director of IT at Cypress. "Appnomic has proven to be a valued provider of practical and valuable technologies we use to ensure employee productivity gains, IT compliance with company policy and regulatory requirements, faster cycle times for service delivery, and continuous cost reduction."

The OpsOne software platform enables Appnomic to provide enormous productivity gains. A number of processes incorporated in the Cypress global infrastructure and applications operations have been automated using OpsOne. For example, multiple script-like data center automation tasks are now enabled through OpsOne. This ensures no errors are made by IT admins accidentally invoking the wrong script or mistyping script instructions. Employee IT account management is largely automated by OpsOne.

Appnomic technology is able to eliminate hundreds of tickets handled by people each month through automations that prevent incidents from occurring in the first place. From 4th quarter of 2012 to 4th quarter of 2013, ticket volumes have been driven down by over 35% -- enhancing Cypress employee work experience, productivity, all while significantly lowering costs.

"When outsourcing IT and business services, many enterprises are tired of relying primarily on people who are susceptible to human error," said John Karsner, Appnomic's CTO. "Appnomic complements the best of talented people for tasks that require human judgment and software technology that can automate recurring tasks. Cypress Semiconductor is taking advantage of the Appnomic solution where the enterprise gets all the benefits of award winning software combined with a 24 x 7 managed services support model -- what Appnomic calls RIMS+, Remote Infrastructure Managed Services plus technology enablement."

Mr. Sundaresan says, "Appnomic deploys IT automation technology like OpsOne so we can leverage technology for more repetitive tasks and focus Cypress' talented technical professionals on work that requires their unique knowledge of our complex global systems environment, creative problem solving skills, and solid vendor program management that only Cypress professionals can do."

"We are very pleased to be selected by Cypress for our software and services expertise," says Ray Solnik, president of Appnomic's US operations, who further stated, "We are also looking forward to a growing number of enterprises who will be purchasing Appnomic solutions through strategic partners that are licensing Appnomic software technologies and integrating those solutions into their own technology-enabled services. Those partners will now benefit from Appnomic's first-hand experience of delivering the next generation of IT software technology as a managed service to enterprises like Cypress Semiconductor."

For more information, please visit www.appnomic.com. A webinar sponsored by the Outsourcing Institute will be announced shortly where Mr. Sundaresan and Mr. Solnik will be joined by an industry subject matter expert to discuss and share more about the new trend of technology-enabled remote managed IT services. Details will be provided on the Appnomic website and the Outsourcing Institute website.

About Appnomic

Appnomic Systems provides innovative analytics software and services that simplify the complexities of managing IT. The company's solutions provide enterprise IT Application Operations (AppOps), DevOps teams, and online companies with the ability to prevent IT application performance incidents like slowness and down time. Appnomic technology also enables users to gear up and gear down application speed based on end-user experience and business goals. The company specializes in serving businesses with high transaction volume operations -- such as banks, large online businesses, and manufacturers.

Appnomic solutions include AppsOne IT operations analytics (ITOA) software, OpsOne data center automation software, and a technology-enabled remote infrastructure managed services called RIMS+ where Appnomic operates as an extension of client IT organizations managing Appnomic software solutions and client IT operations.

Appnomic has customers around the world including top banks and e-commerce portals. The company's global headquarters are in Bangalore, India, and North America headquarters are in Sunnyvale, CA. Appnomic Systems is backed by Norwest Venture Partners. For more information please visit the company's website at www.appnomic.com.

About Cypress

Cypress delivers high-performance, mixed-signal, programmable solutions that provide customers with rapid time-to-market and exceptional system value. Cypress offerings include the flagship PSoC® programmable system-on-chip families and derivatives such as PowerPSoC® solutions for high-voltage and LED lighting applications, CapSense® touch sensing and TrueTouch® solutions for touchscreens. Cypress is the world leader in USB controllers, including the high-performance West Bridge® solution that enhances connectivity and performance in multimedia handsets. Cypress is also a leader in high-performance memories and programmable timing devices. Cypress serves numerous markets including consumer, mobile handsets, computation, data communications, automotive, industrial and military. Cypress trades on the NASDAQ Global Select Market under the ticker symbol CY. Visit Cypress online at www.cypress.com.

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