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Intersil expands converter portfolio with new acquisition

Posted: 03 Oct 2008 ?? ?Print Version ?Bookmark and Share

Keywords:acquisition? data converter? ADC company?

Intersil Corp. has signed a definitive agreement to acquire Kenet Inc., a privately-held, fabless semiconductor company that specializes in the design and manufacture of high speed, extremely low power data converters.

Kenet's FemtoCharge CMOS technology yields high performance and ultralow power ADCs in an extremely small die area. The size and power advantages of Kenet's data converters enable increased functionality in a variety of industrial and communications products such as portable digital oscilloscopes and software-defined radios.

"Intersil remains committed to key strategic acquisitions to broaden our product portfolio," said Dave Bell, Intersil's CEO. "Kenet has developed the world's highest performance ADCs with power consumption at a fraction of those currently on the market. This gives Intersil important technology leadership and access to many previously un-served markets."

"Having access to Intersil's global resources will accelerate our entrance into the data converter market and provides an innovative technology platform for many new products," said Phill LoPresti, Kenet's CEO.

The boards of directors of both companies have unanimously approved the merger. The acquisition adds an additional $2 million dollars of operating expenses per quarter, and is expected to become accretive in 2010. Intersil may record a one-time charge to operating income for purchased in-process research and development expenses when the closing occurs. The amount of that charge, if any, has not yet been determined. Closing of the merger is expected to be completed within days. Signal Hill acted as advisors for Kenet on the transaction.

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