Xicor shareholders approve merger with Intersil

Analog semiconductor supplier Intersil Corp. reported that its pending acquisition of analog and mixed-signal semiconductor supplier Xicor Inc. was approved by 96 percent of voting Xicor shareholders. The transaction is expected to close today.

Intersil, Milpitas, California, announced a definitive agreement to acquire Xicor, also in Milpitas, for cash and stock in March. The transaction would strengthen Intersil's offerings in digital potentiometers, system management parts, real-time clocks, voltage references and power sequencing and display products. Intersil specializes in analog integrated circuits for power management and flat panel displays.

For Intersil, this would be the second acquisition of an analog company in recent years. Intersil acquired Elantec Semiconductor in May 2002.

Intersil expects to record a one-time charge for the purchased in-process research and development expenses related to the transaction in its third quarter financial statements. The amount of the charge has not yet been determined.

- Spencer Chin

EE Times