[March 01, 2011] International Rectifier to Acquire CHiL Semiconductor Tweet Mar 02, 2011 (Close-Up Media via COMTEX) -- International Rectifier Corporation announced that it has signed a definitive agreement to acquire privately held CHiL Semiconductor Corporation for $75 million in cash, subject to working capital adjustments. "The addition of CHiL's technology and expertise to our broad portfolio of industry leading products such as DirectFET, PowIRstage and SupIRBuck, offers IR's customers a unique value proposition by providing a high performance, cost effective, complete end-to-end integrated solution," said Tim Phillips, Vice President and General Manager, Enterprise Power Business Unit of IR, in a release. "Digital power management is entering a rapid adoption phase and the addition of CHiL's technology strengthens IR's market position to capitalize on this growth opportunity. "The acquisition is the next logical step after our successful strategic product relationship with CHiL during the past year and will augment IR's talent base by adding an experienced digital power design and applications engineering team." "The increased focus on energy efficient products over the next decade is expected to drive an expanding use of digital power management in applications such as DC-DC converters, AC-DC converters, lighting, inverters and Class-D audio systems," said Vishwas Karve, Vice President, Strategy and Business Development of IR. "The acquisition of CHiL expands IR's presence immediately in the high performance computing and graphics segments, over the medium-term in the server, storage and notebook end markets and longer-term across the Company's other vertical end market segments including Energy-Savings Products, Automotive Products and HiRel business units." "IR's focus on power management solutions and energy efficiency make it an ideal partner for our customers and employees," said Ram Sudireddy, Chief Executive Officer of CHiL Semiconductor. "As digital power management continues to expand, the combined technology of IR and CHiL can create a higher performance and lower cost solution enabling end users to create more energy efficient solutions. To date, CHiL has secured a significant number of design-wins across a wide spectrum of graphics, high performance computing and server platforms that IR can help grow." The transaction is expected to close in the first calendar quarter of 2011. The acquisition, which initially adds approximately $3 million of additional operating expenses per quarter, is expected to be accretive to IR's earnings per share in the company's 2012 fiscal year. International Rectifier Corporation is a provider of power management technology. CHiL Semiconductor Corporation develops power management integrated circuits. ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]