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Intersil closes Techwell acquisition(M&A Navigator Via Acquire Media NewsEdge) US semiconductor maker Intersil Corporation (NASDAQ: ISIL) said Tuesday it has completed the previously announced acquisition of home sector firm Techwell (NASDAQ:TWLL) for some USD370m (EUR280.1m). The takeover price was paid in combination of cash and a USD300m debt issue. Following the acquisition, Techwell will be delisted from the Nasdaq global select market and will operate as an indirect, wholly-owned subsidiary of Intersil. According to Intersil CEO Dave Bell, the acquisition forms a perfect fit to the company's industrial video market businesses, enabling it to further expand them. Excluding costs, the acquisition is expected to boost Intersil's profits this year. California-based Techwell is a developer of mixed signal video semiconductor solutions for the automotive industry and security surveillance sector. Country: ; USA Sector: Electronics Target: Techwell Inc Buyer: Intersil Corporation Deal size in USD: 370m Type: P2P Financing: Cash & Debt Status: Closed ((Comments on this story may be sent to [email protected])) (c) 2010 M2 COMMUNICATIONS |