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IR announces $75 million acquisition of CHiL

Posted: 02 Mar 2011 ?? ?Print Version ?Bookmark and Share

Keywords:acquisition? digital power? point-of-load? multiphase?

International Rectifier Corp. (IR) recently announced its decision to purchase CHiL Semiconductor Corp. (CHiL) for $75 million. According to IR, the acquisition cost is still subject to working capital adjustments.

The company believes that CHiL's digital power management platform is a perfect match to its technology in point-of-load and multiphase products. CHiL's management platform promotes energy efficiency in applications such as computing, graphics, servers and gaming.

CHiL uses patented digital techniques in combination with mixed-signal technology to deliver high performance multiphase, energy-saving power solutions. The open architecture approach to digital control, where customers can tailor power systems for cost and performance goals, enables significant board space and BOM reduction, integrating many analog features into the digital core of the technology.

"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," said Tim Phillips, vice president and general manager of the enterprise power business unit of IR, in a statement. "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," concluded Phillips.

"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," stated Vishwas Karve, vice president of strategy and business development of IR in the same statement. "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 the longer term across the company's other vertical end market segments including energy-saving products, automotive products and HiRel business units."

"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," said Ram Sudireddy, CEO of CHiL, in the same statement.

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.

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