MILPITAS, CA, December 18, 2008 – Intersil Corporation (NASDAQ Global Select:ISIL), a world leader in the design and manufacture of high-performance analog semiconductors, today announced that it has signed a definitive agreement to acquire Zilker Labs, Inc., a privately-held, fabless semiconductor company with technology leadership in high efficiency digital power integrated circuits.
Zilker Labs’ patented Digital-DC™ technology is an innovative mixed-signal power conversion and management architecture that combines an efficient digital loop synchronous switching regulator, adaptive MOSFET drivers and a digital control interface into one IC. This unique approach provides superior efficiency, flexibility and scalability while decreasing required board space and design complexity through the reduction of discrete components.
“The Digital-DC products from Zilker Labs immediately establish Intersil as a technology leader in digital power management solutions for the communications, data processing, industrial and energy management markets,” said Dave Bell, Intersil’s Chief Executive Officer. “Zilker has developed state-of-the-art digital power products which fit nicely with Intersil’s broad portfolio of power management solutions.”
“We are very pleased to join the Intersil team,” said Bob Bridge, Zilker Labs’ President and Chief Executive Officer. “Having access to Intersil’s global resources will accelerate our entrance into targeted markets and also provides an innovative technology platform for many new products.”
This acquisition is the third announced by Intersil over the past five months. “Despite the challenging economic environment, Intersil remains committed to investing in key strategic acquisitions that broaden our product portfolio and improve our market position,” said Dave Bell, Intersil’s Chief Executive Officer. “We believe the acquisition of Zilker Labs, along with the previously announced D2Audio and Kenet acquisitions, positions Intersil for strong growth.”
The boards of directors of both companies have approved the merger. The acquisition, which adds approximately $1.5 million of additional operating expenses per quarter, is expected to become accretive by 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.
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. Intersil’s 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.