Fairchild Semi plans to buy Intersil discrete power unit
Sunday, 28 January, 2001
Fairchild Semiconductor International has agreed to buy Intersil Corp's discrete power business for $US 338 million in cash, increasing Fairchild's market share in chips that manage power consumption in personal computers and other devices.
The acquisition, expected to close this quarter, will add to earnings this year, Fairchild said. It wasn't more specific. Fairchild will get 650 workers from the purchase, said Joe Martin, chief financial officer.
The acquisition will give Fairchild a design and manufacturing facility in Mountaintop, Pennsylvania, increase the company's presence in the automotive engine and ignition control markets, and give it a foothold in the aerospace market.
"Fairchild has historically only played on the periphery of the aerospace, military and automotive markets, primarily because to enter them after the fact is extremely difficult," Martin said.
"This clearly gives us an opportunity to focus significant amounts of resource into these markets".
Item provided courtesy of Industry Search
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