IR Acquires Royal Philips Electronics’ TechnoFusion
International Rectifier Corp. (IR, El Segundo, CA) announced that it is acquiring TechnoFusion GmbH (Krefeld, Germany), a wholly owned subsidiary of Royal Philips Electronics (Eindhoven, Netherlands) that makes power generation systems for automotive electronics. IR is paying $50.0 million in cash for the 375-person company. The merger is expected to conclude this quarter following customary approvals and closing conditions.
TechnoFusion, which makes integrated regulator micro-electronic modules for automotive electronics, said its products are used in advanced automotive alternators. Last year, the company had turnover of $50.0 million. TechnoFusion’s customers include Daimler-Chrysler, Visteon, Denso and Valeo, among others.