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Allegro MicroSystems Announces Opening of New R&D Center in Greater Dallas

New Richardson, TX Office in Innovation Quarter Enables Development of New Semiconductor Integrated Chips (IC) for Electric Vehicles

Manchester, NH, USA, Jan. 25, 2023 (GLOBE NEWSWIRE) — Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in sensing and power solutions for motion control and energy efficient systems, is proud to announce plans to open a new U.S.-based office located in Richardson, Texas. In addition to creating new job opportunities for the local community, the company’s newest innovation and design center will serve as a hub for Allegro’s Sensors and Power Integrated Circuits research and development efforts, while furthering the company’s mission to develop semiconductor chips that support a safer and more sustainable future.

Establishing roots in the heart of the metroplex, Allegro is excited to be joining other notable businesses within the Richardson Innovation Quarter – also known as Richardson IQ® or The IQ® – a 1,200-acre urban district that serves as the city’s living laboratory for big ideas and groundbreaking innovations within Texas’ premier technology corridor. In addition to the city’s thriving innovation district, Richardson’s status as home to The University of Texas at Dallas offers a direct line to top engineering, science, and business talent.

“We are thrilled to be opening our newest design center in Richardson,” said Suman Narayan, Senior Vice President Products at Allegro. “The city’s strong talent pool and technology-focused community make it the perfect location for our newest design center. We are excited to be contributing to the growth of the community and ecosystem for innovation while tapping into local talent.”

Opening in the Spring of 2023, the Richardson office will initially focus as a Sensors and Power Integrated Circuit Innovation and Design Center. With an existing employee base in the Dallas-Fort Worth (DFW) Metroplex, the company plans to grow its local workforce as much as three times over the next few years by hiring engineering leadership in analog design, test, systems engineering, applications, and product marketing.

“We are thrilled to welcome Allegro to Richardson with the opening of its newest design center in The IQ®,” said Richardson Mayor Paul Voelker. “Their pioneering technologies are redefining the future of sensing and power innovations, and their decision to invest in our community and create new jobs is a testament to the strength of our local economy and the abundance of talent here. This move is another vote of confidence in our city’s thriving technology sector. We look forward to a long and successful partnership.”

About Allegro MicroSystems
Allegro MicroSystems (Nasdaq: ALGM) is redefining the future of sensing and power technologies. From green energy to advanced mobility and motion control systems, our team is passionate about developing intelligent solutions that move the world forward and give our customers a competitive edge. With global engineering, manufacturing and support, Allegro is a trusted partner to both large enterprises and regional market leaders worldwide. Visit www.allegromicro.com.

About the Richardson Innovation Quarter
The Richardson Innovation Quarter, also known simply as Richardson IQ® or The IQ®, is a 1,200-acre urban hub in Richardson, Texas, with a rich heritage of innovation and entrepreneurship. As Texas’ premier tech hub, The IQ® is the City of Richardson’s living laboratory for big ideas and groundbreaking technology. The IQ® has historical significance as a home to Richardson’s leading technology and telecommunications firms making up the heart of the larger Telecom Corridor® area. Today it is home to Argo Data, Digital Realty, Ericsson, Honeywell, id Software, Raytheon, Siemens, Verizon and a multitude of smaller nano and other technology operations. In addition, corporate research and development, manufacturers, educational institutions, nonprofit organizations, restaurants, entrepreneurs, designers, researchers, inventors, educators and students also represent a prominent presence within The IQ®. The Richardson IQ® comprises more than half of Richardson’s businesses and is home to 20 percent of the community’s employment base. For more information, visit richardsoniq.com.

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CONTACT: Brett Perry
Shelton Group Investor Relations
+1-214-272-0070
bperry@sheltongroup.com

Tyler Weiland
Shelton Group Public Relations
+1-972-571-7834
tweiland@sheltongroup.com

Jalene Hoover
Allegro Microsystems
+1-512-751-6526
jhoover@allegromicro.com

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