Fairchild Semiconductor International (South Portland, ME) announced that it has completed the sale of its military and space-related discrete power product line to International Rectifier Corp. (IR, El Segundo, CA). The deal is valued at roughly $29.6 million in cash. IR said the product line is expected to produce $10.0 million in revenue for the company over the next 12 months.
"The product line we’ve sold to International Rectifier was a small part of the portfolio we acquired when we purchased Intersil’s discrete power business division in March of last year," said Kirk Pond, Fairchild’s president, CEO and chairman. "Since Fairchild’s end-market focus has never concentrated on defense and aerospace applications, it made sense to sell this line to a mainstream defense component supplier like International Rectifier."
