Intersil and PowerSmart Form Strategic AllianceApril 04, 2001 by Jeff Shepard
Intersil Holding Corp. (Irving, CA) reports that it has formed a strategic alliance with PowerSmart Inc. (Shelton, CT) for the development of power management solutions that extend battery life in mobile appliances, PDAs and cell phones. Intersil and PowerSmart will engage in the joint development of ICs, firmware and software for smart battery, power management applications. In forming this alliance, Intersil will make a $5 million strategic investment in PowerSmart.
“The tremendous growth in wireless connectivity is driving the need for energy-efficient portable devices," commented Rick Furtney, vice president and general manager of Intersil's power management business. “PowerSmart's complementary technologies help accelerate the development of products for battery-powered mobile applications. They bring a depth of understanding in cell chemistries, smart battery electronics and charging systems that complements our expertise in power IC development. Our plan is to leverage this synergistic relationship with PowerSmart to provide our customers a significant competitive advantage in this fast-growing, portable device market."
President and CEO Norm Allen of PowerSmart added, “The entire PowerSmart team is pleased to partner with the Intersil power management team on the co-development of new products for the rapidly-expanding mobile appliance marketplace. He continued, “This is a synergistic fit, and the combined resources of PowerSmart and Intersil will allow customers to move quickly and take advantage of significant wireless and wired mobile market opportunities. The alliance of Intersil and PowerSmart will allow us to quickly develop the battery management ICs needed to maximize device runtime and battery life."