MILPITAS, CA, July 28, 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 D2Audio Corporation, a privately-held innovation leader in the design of digital audio power amplifiers for consumer, commercial, automotive and professional audio applications.
D2Audio was founded in 2002 as a privately-held company in Austin, Texas. D2Audio is the developer of the world’s only intelligent digital amplifiers, the Digital Audio Engine™ (DAE) family of ICs, which deliver superior sound quality. The patented D2Audio technology monitors, perfects, and enhances audio quality with real-time digital feedback.
“With the D2Audio acquisition, we expand our leadership position in the consumer market and broaden our growing product portfolio,” said Dave Bell, Intersil’s Chief Executive Officer. “D2Audio’s innovative technologies work synergistically with Intersil’s power and signal conditioning products,” Bell said, “and we expect to leverage these new technologies to further penetrate new and existing markets.”
D2Audio’s intelligent amplifiers and D2Audio SoundSuite™ technology offer audio equipment manufacturers the highest possible sound quality that dramatically improves the consumer’s listening experience. “We are very excited to be part of the Intersil family,” said Brian Wong, D2Audio President and Chief Executive Officer. “We believe that D2Audio’s products will further strengthen Intersil’s leadership position in the consumer electronics market,” Wong said.
The boards of directors of both companies have unanimously approved the merger. Intersil may record a one-time charge to operating income for purchased in-process research and development expenses when the closing occurs. Intersil expects that the merger with D2Audio will have an immaterial impact on the third quarter and full year 2008 earnings. 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 http://www.intersil.com/