MILPITAS, Calif., Sept. 8, 2015 /PRNewswire/ -- Intersil
Corporation (NASDAQ:ISIL), a leading provider of innovative power
management and precision analog solutions, today announced the
acquisition of Great Wall Semiconductor (GWS), a private technology
company developing state-of-the-art power metal-oxide semiconductor
field-effect transistor (MOSFET) technology for cloud computing,
space and consumer applications.
GWS's design team brings valuable experience leveraging advanced
design and process technology to enable power efficiency gains and
footprint reduction in complex power systems. GWS's existing and
emerging FET products in combination with Intersil's power
controller portfolio, are expected to expand Intersil's addressable
market and provide compelling integration opportunities to
accelerate innovation in the development of next generation power
stages.
"This small but experienced team will be a great asset as we
continue to expand our power management capabilities," said
Mark Downing, senior vice president
of corporate strategy and infrastructure power products.
"Intersil's strategy is based on establishing market leadership
through the development of highly efficient and highly integrated
power management solutions. This acquisition is aligned with that
effort and nicely augments our existing team with additional
intellectual property and talent."
"GWS has differentiated itself through expertise in Lateral
Power MOSFET device and processing technology combined with
miniature chipscale packaging," said Sam
Anderson, CEO of Great Wall Semiconductor. "We have
developed important intellectual property that enables energy
savings and environmental progess that can now reach a broader set
of customers and markets as we become part of Intersil."
Intersil acquired GWS for initial cash consideration of
$19 million, with up to $4 million additional cash consideration based on
the achievement of post-closing business metrics through
2016. The acquisition is expected to be neutral to 2015
non-GAAP earnings.
About Great Wall Semiconductor
Based in Tempe, Arizona, GWS was founded in 2002, and
has 10 employees. GWS has been awarded 22 patents related to
lateral low voltage power MOSFET technology. The technology has
been successfully deployed to enable efficient power conversion in
cloud computing, space and mobile applications. For more
information about GWS, visit http://www.greatwallsemi.com/
About Intersil
Intersil Corporation is a leading
provider of innovative power management and precision analog
solutions. The company's products form the building blocks of
increasingly intelligent, mobile and power hungry electronics,
enabling advances in power management to improve efficiency and
extend battery life. With a deep portfolio of intellectual property
and a rich history of design and process innovation, Intersil is
the trusted partner to leading companies in some of the world's
largest markets, including industrial and infrastructure, mobile
computing, automotive and aerospace. For more information about
Intersil, visit our website at www.intersil.com.
FORWARD-LOOKING STATEMENTS
Intersil Corporation press
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statements. Such forward-looking statements are based upon
Intersil's management's current expectations, estimates, beliefs,
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Words such as "anticipates," "expects," "intends," "plans,"
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variations of these words (or negatives of these words) or similar
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In addition, any statements that refer to projections or other
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forward-looking statements are not guarantees of future performance
and are subject to certain risks, uncertainties and assumptions
that are difficult to predict. Therefore, our actual results could
differ materially and adversely from those expressed in any
forward-looking statements as a result of various risk factors.
Important factors that may affect our business, future operating
results and financial condition include: any faltering in global
economic conditions, the highly cyclical nature of the
semiconductor industry, intense competition in the semiconductor
industry, unsuccessful product development or failure to obtain
market acceptance of our products, downturns in the computing
market, failure to make or deliver products in a timely manner,
unavailability of raw materials, services, supplies or
manufacturing capacity, delays in production or in implementing new
production techniques, product defects or unreliability of
products, adverse results in litigation matters, and other risk
factors described in Intersil's Annual Report on Form 10-K,
subsequent Quarterly Reports on Form 10-Q, recent Current Reports
on Form 8-K and other Intersil filings with the U.S. Securities and
Exchange Commission (which you may obtain for free at the SEC's web
site at http://www.sec.gov). These forward-looking statements are
made only as of the date of this communication and Intersil
undertakes no obligation to update or revise these forward-looking
statements. Intersil does not adopt and is not responsible for any
forward-looking statements and projections made by others in this
press release.
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SOURCE Intersil Corporation