International Rectifier Corp. (IR, El Segundo, CA) announced that it has entered into an agreement to acquire the specialty silicon epitaxial services business of ATMI Inc. (Mesa, AZ). The deal, worth $41 million in cash for the operations and assets of the group, included related intellectual property, fixed assets and inventory. About 90 of ATMI's employees will join IR as part of the agreement.
"The group has provided excellent service to us over the years, and we are excited to have these employees join the IR team," said IR CEO Alex Lidow. "They will bring innovative knowledge and expertise in specialty silicon and silicon germanium epitaxy, as well as key intellectual property for improving epitaxy deposition throughput and lowering production costs."
The deal is expected to close in the September quarter. IR expects the acquisition to be accretive within the first 12 months.
