Fairchild Announces Plans to Purchase KOTA's and Micro Linear's Power Management Business
Fairchild Semiconductor International (South Portland, ME) stated it plans to acquire KOTA Microcircuits (Loveland, CO) and Micro Linear Corp.'s (San Jose, CA) power management business for a total of $21.0 million in an effort to build up its analog business. KOTA and Micro Linear's power management business will become part of Fairchild's Analog and Mixed Signal Group. The purchases are expected to be finalized soon, the company said.
"In just three years, Fairchild has grown its analog business from ground zero to a business approaching $400.0 million annually," said Kirk Pond, Fairchild president, chairman and CEO. "Today, Fairchild is one of the top five power analog players in the world, and we don't plan to rest on our laurels."
Fairchild is acquiring the companies for a total of $21.0 million in cash and stock, subject to post-closing adjustments. The companies' combined annual revenues for the 2001 calendar year are expected to reach $30.0 to $40.0 million, according to the company. The mergers will be the semiconductor company's third and fourth analog acquisitions since becoming an independent firm in 1997, and will boost the company's analog growth trajectory by broadening its product portfolio and adding design talent.