International Rectifier Acquires Lambda Advanced Analog and Magnitude-3November 26, 2000 by Jeff Shepard
International Rectifier Corp. (IR, El Segundo, CA) has announced that it is expanding its proprietary business with the acquisitions of Lambda Advanced Analog Inc. (Santa Clara, CA) and Magnitude-3 (San Jose, CA). IR has entered into an agreement to purchase Advanced Analog and has recently completed the acquisition of Magnitude-3.
International Rectifier expects to pay approximately $24 million for the two companies, which have annualized revenues of about $28 million. The acquisitions are expected to be accretive within the first 12 months.
International Rectifier CEO Alex Lidow commented, “These acquisitions reflect our strategic emphasis on proprietary business. Their technology, products, and customers provide an excellent fit and strengthen our leadership position in power management for aerospace and other lucrative high-reliability applications."
John Catrambone, vice president of IR's high-rel components and subsystems business unit, further noted, “We are confident that our combined operations will offer a compelling combination of products and services to industry leaders seeking power management solutions for the world's most demanding applications. Our joint management team is enthusiastic about our role in a group that is defining power architectures and setting industry standards."