Filed by Pixelworks, Inc. Pursuant to Rule 425

under the Securities Act of 1933.

In addition, Pixelworks, Inc. deems this communication to be

filed under Rule 14a-12 of

the Securities Exchange Act of 1934.

Subject Corporation: Pixelworks, Inc.

Commission File No. 333-104641.

Filing Date: June 5, 2003

 

On March 17, 2003, Pixelworks, Inc. and Genesis Microchip Inc. announced that they had entered into a merger agreement whereby Pixelworks is to acquire Genesis Microchip. The following is a series of slides relating to the merger, that were presented by Allen Alley, Chairman and Chief Executive Officer of Pixelworks, Inc. and James Donegan, Chairman and Chief Executive Officer of Genesis Microchip Inc. to attendees of the SmithBarneyCitigroup Financial Conference on June 5 and 6, 2003:

 


 

 

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Filed by Pixelworks, Inc. Pursuant to Rule 425

under the Securities Act of 1933.

In addition, Pixelworks, Inc. deems this communication to be

filed under Rule 14a-12 of

the Securities Exchange Act of 1934.

Subject Corporation: Pixelworks, Inc.

Commission File No. 000-30269.

Filing Date: June 5, 2003

 

On March 17, 2003, Pixelworks, Inc. and Genesis Microchip Inc. announced that they had entered into a merger agreement whereby Pixelworks is to acquire Genesis Microchip. The following is a series of slides relating to the merger, that were presented by Allen Alley, Chairman and Chief Executive Officer of Pixelworks, Inc. and James Donegan, Chairman and Chief Executive Officer of Genesis Microchip Inc. to attendees of the SmithBarneyCitigroup Financial Conference on June 5 and 6, 2003:

 



 

[LOGO]

 

Jim Donegan

Allen Alley

Chairman/CEO

Chairman/CEO

Genesis Microchip

Pixelworks

 



 

Safe Harbor

 

This discussion will contain forward-looking statements within the meaning of the federal securities laws, including statements about the growth of the display market and our financial performance. The forward-looking statements are subject to risks and uncertainties that could cause the results to differ from those projected.

 

The risks and uncertainties include the actual growth of the display market, the acceptance of our products in that market, our ability to introduce new products on a timely basis, changes in product mix, our ability to integrate acquired technologies, and general economic conditions. Other risk factors are listed in our SEC reports, including but not limited to the Form S-4 registration statement filed by Pixelworks on April 18, 2003, and the most recent annual reports on Form 10-K and quarterly reports on Form 10-Q filed by each of Genesis and Pixelworks.

 

[LOGO]

Genesis Microchip Inc. (Nasdaq:GNSS)
Pixelworks, Inc. (Nasdaq:PXLW)

[LOGO]

 



 

Three Powerful Product Waves

 

 

Monitors
[GRAPHIC]

 

 

 

 

Projectors
[GRAPHIC]

[GRAPHIC]

Advanced TV
[GRAPHIC]

 

[LOGO]

 

[LOGO]

 



 

5.5 Billion Presentations

 



 

[LOGO]

Projector Forecast

 

[CHART]

 

Source:  Pacific Media Associates July 2002

 



 

[CHART]

 

Source:  Pacific Media Associates July 2002

 



 

Projectors Crack the $1,000 Barrier

 

[GRAPHIC]

 

[LOGO]

Used with permission of InFocus Corporation

[LOGO]

 



 

[GRAPHIC]

 

Used with permission of Epson America

 



 

Projector Forecast

 

[CHART]

 

 

Source:  Pacific Media Associates July 2002

[LOGO]

 



 

Projector Customers

 

                  INFOCOMM 2002 All of the top 14 brands introduced products Powered by Pixelworks

 

                  The most revolutionary products are Powered by Pixelworks

 

[LOGO]

 



 

One Billion Monitors

 



 

Monitor History

 

[GRAPHIC]

 

[CHART]

 

[LOGO]

Source: Genesis
Microchip/DisplaySearch 2003

 

 



 

[GRAPHIC]

 

[CHART]

 

Source: Genesis
Microchip/DisplaySearch 2003

 



 

Genesis Monitor Success

 

[GRAPHIC]

 

[CHART]

 

Source: Genesis
Microchip/DisplaySearch 2003

 



 

[GRAPHIC]

 

[CHART]

 

Source: Genesis
Microchip/DisplaySearch 2003

 



 

One Billion TVs

 



 

What is your next TV?

 

[GRAPHIC]

 

x TV

 

[LOGO]

 

[LOGO]

 



 

This is your next TV

 

[GRAPHIC]

 

next TV

 



 

LCD Television Forecast

 

[CHART]

 

Source:  DisplaySearch, Stanford Resources 2002

 



 

20” LCD TVs Crack the $1,000 Barrier

 

[GRAPHIC]

 



 

LCD Television Forecast

 

[CHART]

 

Source:  DisplaySearch, Stanford Resources 2002

 



 

Digital Television Forecast

 

[CHART]

 

Source:  DisplaySearch, Stanford Resources 2002

 



 

Rear Projection Television Forecast

 

[CHART]

 

Source:  DisplaySearch, Stanford Resources 2002

 



 

Plasma Television Forecast

 

[CHART]

 

Source:  DisplaySearch, Stanford Resources 2002

 



 

Advanced Television Forecast

 

[CHART]

 

Source:  DisplaySearch, Stanford Resources 2002

 



 

Pixelworks Advanced Video Processing

 

ghost removal

 

color space conversion

 

noise reduction

 

motion adaptive processing

 

line doubling

 

edge enhancement

 

and more...

 

[GRAPHIC]

 



 

Flat Panel Displays Achieve Faster Growth

 

[CHART]

 



 

[ LOGO]

[LOGO]

 

The Merger of Genesis and Pixelworks

 

March, 2003

 



 

Announcement

 

Merging into One Company

 

Creating

 

Leading Provider of Innovative -
Cost Effective IC Solutions For Advanced Displays

 

[LOGO]

 

[LOGO]

 



 

Company Strengths

 

[LOGO]

 

•     Best of Class Monitor Technology

•     Mixed Signal Integration

•     Operational Strength, >40Mu shipped

•     140+ Patents Issued

•     Award Winning Faroudja Video

•     Brand Recognition

 

[LOGO]

 

•     Best of Class Projection Technology

•     Feature Innovation

•     Smart Integration Technology

•     System Engineering Expertise

•     Advanced Video Processing, HDTV

•     Broad Applications Experience

 

[LOGO]

 



 

Strategy: Why are we doing this?

 

[LOGO]

[LOGO]

 

 

Leader in LCD Monitor ICs
Digital TV Technology

Leader in Projector ICs
TV Solutions

 

 

 

 

Flat Panel TV

Flat Panel TV

 

[GRAPHIC]

 



 

[LOGO]

[LOGO]

 

 

Leader in LCD Monitor ICs
Digital TV Technology

Leader in Projector ICs
TV Solutions

 

 

Drive Flat Panel TV Technology

 

[GRAPHIC]

 

Your Partner for advanced display ICs

 



 

The New Organization

 

[CHART]

 



 

The New Company: Strategy

 

•     Leadership in LCD monitor controllers

•     Leadership in projector ICs

•     CRT TV product initiative

•     Drive flat panel TV adoption

•     Total Customer Satisfaction

 



 

The New Company

 

•   More Technology

 

              Faroudja Video, nDSP, Mixed Signal, …

              More advancement and innovation in video technology

 

•   More Products

 

              Monitors, Projectors, CRT TVs, LCD TVs

 

•   More Technical Support

 

              Korea, Taiwan, Japan, China, North America, Europe, India

 

•   Lower Costs

 

              Manufacturing Volume, > 10Mu per quarter

              More competitive pricing

 

•   Financial Strength

 

              $200M+ Cash, $300M+ Revenue

 



 

[LOGO]

 



Additional Information and Where to Find It

 

In connection with the proposed Pixelworks/Genesis merger, Pixelworks, Genesis Microchip and Display Acquisition Corporation filed a joint proxy statement/prospectus on Form S-4 with the Securities and Exchange Commission (the “SEC”) on April 18, 2003. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS BECAUSE IT CONTAINS IMPORTANT INFORMATION ABOUT THE TRANSACTION DESCRIBED HEREIN. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus and other documents filed by Pixelworks and Genesis Microchip with the SEC at the SEC’s web site at www.sec.gov or by contacting Pixelworks at 503-454-1750 and through Pixelworks’ website at www.pixelworks.com, or by contacting Genesis Microchip at 408-262-6599 and through Genesis Microchip’s website at www.genesis-microchip.com.

 

Pixelworks and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Pixelworks and Genesis Microchip in connection with the transaction described herein. Information regarding the special interests of these directors and executive officers in the transaction described herein is included in the joint proxy statement/prospectus described above. Additional information regarding these directors and executive officers is also included in Pixelworks’ proxy statement for its 2003 Annual Meeting of Stockholders, which was filed with the SEC on or about April 18, 2003. This document is available free of charge by contacting the SEC or Pixelworks as indicated above.

 

Genesis Microchip and its directors and executive officers also may be deemed to be participants in the solicitation of proxies from the stockholders of Pixelworks and Genesis Microchip in connection with the transaction described herein. Information regarding the special interests of these directors and executive officers in the transaction described herein is included in the joint proxy statement/prospectus described above.  Additional information regarding these directors and executive officers is also included in Genesis Microchip’s proxy statement for its 2002 Annual Meeting of Stockholders, which was filed with the SEC on or about August 15, 2002. This document is available free of charge by contacting the SEC or Genesis Microchip as indicated above.