AnalogicTech to acquire IPCore's analog power biz

Advanced Analogic Technologies Inc. (AnalogicTech), a developer of power management semiconductors, has entered into a definitive agreement to acquire the power management analog business of IPCore Technologies Corp., including IPCore's subsidiary Analog Power Semiconductor Corp. (AP Semi) and certain related assets.

Under the terms of the agreement, AnalogicTech will purchase AP Semi and certain related assets from IPCore for approximately $22 million in cash, in addition to certain transaction related expenses.

"The acquisition of AP Semi will allow us to immediately expand our engineering team and establish a fully-staffed Shanghai design center," said Richard K. Williams, President, CEO and CTO of AnalogicTech. "This move complements our ongoing product design and development activities targeted at portable consumer electronic devices, such as digital still cameras, personal media players and mobile phones. It also will allow us to extend value to our customers by increasing our presence in key markets in China, Japan and Taiwan, and provide local design support."

Focused on the design of highly integrated analog power management ICs, AP Semi develops key components for many of the same mobile consumer electronics markets AnalogicTech currently targets. AP Semi's customers are primarily located in China, Taiwan and Japan.

Subject to customary closing conditions, the acquisition is expected to close early next month.