News & Events
Intersil Acquires Kenet, A Performance Leader in High Speed Data Conversion
MILPITAS, CA, September 30, 2008 Intersil Corporation (NASDAQ Global Select: ISIL), a world leader in the design and manufacture of high-performance analog solutions, today announced that it has signed a definitive agreement to acquire Kenet, Incorporated, a privately-held, fabless semiconductor company with leading technology in the design and manufacture of high speed, extremely low power data converters.
Kenets innovative FemtoCharge® CMOS technology yields high performance and ultra-low power analog-to-digital converters in an extremely small die area. The size and power advantages of Kenets data converters enable increased functionality in a variety of industrial and communications products such as portable digital oscilloscopes and software defined radios.
Intersil remains committed to key strategic acquisitions to broaden our product portfolio, said Dave Bell, Intersils Chief Executive Officer. Kenet has developed the worlds highest performance analog-to-digital converters with power consumption at a fraction of those currently on the market. This gives Intersil important technology leadership and access to many previously un-served markets.
We are very pleased to be a part of the Intersil family, said Phill LoPresti, Kenets Chief Executive Officer. Having access to Intersils global resources will accelerate our entrance into the data converter market and provides an innovative technology platform for many new products.
The boards of directors of both companies have unanimously approved the merger. The acquisition adds an additional two million dollars of operating expenses per quarter, and is expected to become accretive in 2010. Intersil may record a one-time charge to operating income for purchased in-process research and development expenses when the closing occurs. The amount of that charge, if any, has not yet been determined. Closing of the merger is expected to be completed within days. Signal Hill acted as advisors for Kenet on the transaction.
About Intersil
Intersil Corporation is a leader in the design and manufacture of
high-performance analog semiconductors. The Company's products address some of
the industry's fastest growing markets, such as, flat panel displays, cell
phones, other handheld systems, and notebooks. Intersils product families
address power management functions and analog signal processing functions.
Intersil products include ICs for battery management, hot-swap and hot-plug
controllers, linear regulators, power sequencers, supervisory ICs, bridge
drivers, PWM controllers, switching DC/DC regulators and power MOSFET drivers;
optical storage laser diode drivers; DSL line drivers; video and
high-performance operational amplifiers; data converters; interface ICs; analog
switches and multiplexers; crosspoint switches; voice-over-IP devices; and ICs
for military, space and radiation-hardened applications. For more information
about Intersil or to find out how to become a member of our winning team, visit
the Company's web site and career page at
www.intersil.com.
