Littelfuse completes acquisition of Ixys Corporation

- Advertisement -

Littelfuse, Inc. announced the completion of its acquisition of IXYS Corporation. IXYS is a global pioneer in the power semiconductor market with a focus on medium- to high-voltage power semiconductors across the industrial, communications, consumer and medical device markets.

Littelfuse, acquisition, Ixys Corporation
Image for representational purpose only

“Today marks a significant step forward in our company strategy to accelerate growth within the power control and industrial OEM markets,” said Dave Heinzmann, President and Chief Executive Officer of Littelfuse. “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 EPS. Littelfuse expects to achieve more than $30 million 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.

- Advertisement -

In conjunction with the close of the transaction, IXYS founder Dr. Nathan Zommer has been appointed to the Littelfuse Board of Directors, increasing the size of the board to nine members.

With today’s transaction close, each former IXYS stockholder is entitled to receive, per IXYS share held immediately prior to the closing, either $23.00 in cash or 0.1265 of a share of Littelfuse common stock. In total, 50% of IXYS stock was converted into the cash consideration and 50% into the stock consideration.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

Infineon Beats Estimates With Stellar Q1 Results

0
The demand for chips by automakers has led to a steady rise in profits for Infineon. German semiconductor manufacturer Infineon Technologies topped estimates of its...

Pandemic Boosted Organic LED (OLED) Tablet Penetration

0
Samsung, making OLEDs since 2014, leads the way Emerging tech and declining manufacturing costs making OLED popular Apple expected to bring OLED iPads...

Netflix To Showcase GM EVs in TV Shows, Movies

0
The partnership between Netflix and General Motors (GM) is aimed at exposing people to EVs in a natural way. Netflix announced it would collaborate with...

Exclusive

Pandemic Boosted Organic LED (OLED) Tablet Penetration

0
Samsung, making OLEDs since 2014, leads the way Emerging tech and declining manufacturing costs making OLED popular Apple expected to bring OLED iPads...

India’ 22: Premium Segment Share Up by 11%; Overall Fall in Smartphone Shipments

0
Smartphone shipments fell 9% YoY in 2022 in India The premium segment brought 35% of total smartphone market revenue in 2022; Apple led...

ONE Raises $300 mn; Set To Launch LFP Cell Factory

0
Our Next Energy (ONE) raised $300 million in Series B equity led by Fifth Wall and Franklin Templeton Michigan-based energy storage technology company, Our Next...

Important Sectors

Infineon Beats Estimates With Stellar Q1 Results

0
The demand for chips by automakers has led to a steady rise in profits for Infineon. German semiconductor manufacturer Infineon Technologies topped estimates of its...

Pandemic Boosted Organic LED (OLED) Tablet Penetration

0
Samsung, making OLEDs since 2014, leads the way Emerging tech and declining manufacturing costs making OLED popular Apple expected to bring OLED iPads...

Netflix To Showcase GM EVs in TV Shows, Movies

0
The partnership between Netflix and General Motors (GM) is aimed at exposing people to EVs in a natural way. Netflix announced it would collaborate with...

India’ 22: Premium Segment Share Up by 11%; Overall Fall in Smartphone Shipments

0
Smartphone shipments fell 9% YoY in 2022 in India The premium segment brought 35% of total smartphone market revenue in 2022; Apple led...

ONE Raises $300 mn; Set To Launch LFP Cell Factory

0
Our Next Energy (ONE) raised $300 million in Series B equity led by Fifth Wall and Franklin Templeton Michigan-based energy storage technology company, Our Next...

Manufacturing

Infineon Beats Estimates With Stellar Q1 Results

0
The demand for chips by automakers has led to a steady rise in profits for Infineon. German semiconductor manufacturer Infineon Technologies topped estimates of its...

Honda, GM Partner To Develop Hydrogen Fuel Cell

0
The global hydrogen fuel cell vehicle market is estimated to generate $43,208.3 million by 2031. Japanese automaker Honda Motor Co announced that it would collaborate...

Adding The Edge In The Embedded Edge Market With SiMa.ai

0
SiMa in Hindi means edge, and that is exactly what this startup has brought to the embedded edge market. By integrating Machine Learning on...

Foxconn Hires Former Nidec CEO As Strategy Chief For EVs

0
Foxconn Technology group's latest hire has decades of experience in the automotive industry with names such as Nissan and Dongfeng Motors in his portfolio. Foxconn...
Bharat

Bharat Electronics Misses Profit Estimates For Q3

0
Bharat Electronics has declared an interim dividend of 60% payable to all the eligible shareholders holding shares as of the record date. Shares of Bharat...