DES PLAINES, Ill.--May 30, 2006 -- Littelfuse, Inc. (Nasdaq/NMS:LFUS) today announced that it has completed the previously announced acquisition of Concord Semiconductor and its major subsidiaries for $25 million in cash and the assumption of $1.4 million in net debt. The acquisition is expected to be slightly accretive to earnings. Concord Semiconductor, which operates facilities in Taiwan and China, is a former supplier to Littelfuse. The company has annual sales of approximately $15 million, excluding sales to Littelfuse.
"Concord Semiconductor is an excellent fit for Littelfuse. The acquisition adds silicon wafer manufacturing to our capabilities in Asia and expands our presence in the TVS diode market. Concord's leadership and employee team provide a strong base for this business.
We plan to invest in the continued growth of this operation as we expand our organization and facilities in Asia to be closer to our existing customers, add new customers and participate in the growth of the entire region," said Gordon Hunter, Chief Executive Officer of Littelfuse.
Concord Semiconductor designs and manufactures TVS diodes and other overvoltage circuit protection products for the automotive, consumer electronics, computer, industrial and telecom markets.
About LittelFuse
Founded in 1927, Littelfuse, Inc., the worldwide leader in circuit protection, offers the industry’s broadest and deepest portfolio of circuit protection products and solutions. Littelfuse devices protect products in virtually every market that uses electrical energy, from consumer electronics to automobiles to industrial equipment. In addition to its Chicago, Illinois, world headquarters, Littelfuse has more than 20 sales, distribution, manufacturing and engineering facilities in the Americas, Europe and Asia. Technologies offered by Littelfuse include Fuses; Gas Discharge Tubes (GDTs); Positive Temperature Coefficient Devices (PTCs); Relays, Controls, and Systems; PulseGuard® ESD Suppressors; SIDACtor® Protection Thyristors; TVS Diode Arrays (SPA™ Family of Products); Switching Thyristors; TVS Diodes and Varistors. The company also offers a comprehensive line of highly reliable Electromechanical and Electronic Switch and Control Devices for commercial and specialty vehicles, as well as underground Power Distribution. For more information, please visit www.littelfuse.com.
Safe-Harbor and Forward-Looking Statements are omitted