17 January 2018
Littelfuse completes acquisition of IXYS
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Littelfuse Inc of Chicago, IL, USA, which provides circuit protection technologies (including fuses, semiconductors, polymers, ceramics, relays and sensors), has completed its acquisition of IXYS Corp of Milpitas, CA, USA and Leiden, The Netherlands (which provides medium- to high-voltage power semiconductors and mixed-signal ICs for power conversion and motor control applications across the industrial, communications, consumer and medical device markets).
“Today marks a significant step forward in our company strategy to accelerate growth within the power control and industrial OEM markets,” says president & CEO Dave Heinzmann. “The combination of our companies brings together a broad power semiconductor portfolio, complementary technology expertise and a strong talent pool.”
The transaction is expected to be immediately accretive to adjusted earnings per share (EPS). Littelfuse expects to achieve more than $30m of annualized cost savings within the first two years after closing. The combination is also expected to create significant revenue synergy opportunities longer term, given the companies’ complementary offerings and combined customer base.
In conjunction, IXYS founder Dr Nathan Zommer has been appointed to Littelfuse’s board of directors, increasing its size to nine members.
Each former IXYS stockholder is entitled to receive either $23 in cash or 0.1265 of a Littelfuse share in exchange for each IXYS share held immediately prior to the closing. In total, 50% of IXYS stock was converted into cash and 50% into stock.