Intersil acquires Techwell for $370million
1 min read
Intersil has announced it is to acquire Techwell, a fabless semiconductor company that designs and sells mixed signal video solutions for the security surveillance and automotive infotainment markets. The transaction values Techwell at approximately $370million.
Techwell's products enable the conversion of analogue video signals to digital form and perform digital video processing to facilitate the display, storage and transport of video content. Major applications using Techwell products include industrial dvrs, networked video recorders, multiplexers, as well as automotive front consoles, rearview mirrors and rear seat lcd displays.
Dave Bell (pictured), Intersil's president and chief executive officer, said: "Techwell's team and products will expand our leadership in two high growth industrial markets. The addition of Techwell's mixed signal video products will help our customers build solutions that improve performance, reduce overall cost and shorten time-to-market. In addition, the acquisition will significantly increase our overall industrial business, which will become our largest end market at approximately 31% of revenue."
The acquisition is expected to close during Intersil's second quarter and is subject to regulatory approvals and the satisfaction of other transaction conditions including the tender of at least 50% of Techwell's outstanding shares.
