Product category: Power Supply ICs and Controllers
News Release from: International Rectifier
Edited by the Electronicstalk Editorial Team on 2 July 2004
IR acquires specialty epitaxial services business
International Rectifier has entered into a definitive agreement to acquire the speciality silicon epitaxial services business of ATMI.
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International Rectifier has entered into a definitive agreement to acquire the speciality silicon epitaxial services business of ATMI, subject to customary closing conditions and certain third-party approvals. International Rectifier (IR) has been a major, long-term customer of ATMI's specialty epitaxial services business, located in Mesa, Arizona. IR CEO Alex Lidow said: "This group has provided excellent service to us over the years, and we are excited to have these employees join the IR team".
"They will bring innovative knowledge and expertise in specialty silicon and silicon germanium epitaxy, as well as key intellectual property for improving epitaxy deposition throughput and lowering production costs".
Under the terms of the agreement, IR will pay ATMI up to $41 million in cash for the operations and assets of the group, including related intellectual property, fixed assets, and inventory.
Approximately 90 employees will join IR as part of the agreement.
The transaction is expected to close in the September quarter, and IR expects the acquisition to be accretive within the first 12 months.
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