Intersil Acquires Zilker Labs
Intersil Corp. announced that it has signed a definitive agreement to acquire Zilker Labs, Inc., a privately-held, fabless semiconductor company that specializes in digital power integrated circuits.
Zilker Labs’ patented Digital-DC™ technology is described as 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. It is claimed that this 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 Bell. "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.