iWatt and IKOR Combination Announced

November 30, 2005 by Jeff Shepard

iWatt Inc. (Los Gatos, CA) has acquired the IKOR division of Advanced Energy Industries Inc. (Fort Collins, CO). IKOR will become a wholly-owned subsidiary of iWatt. Product development activities will continue in the respective locations of both iWatt and IKOR in Los Gatos, California and Fort Collins, Colorado.

According to a statement from the companies, joining the two operations allows iWatt and IKOR to add additional resources to enhance and augment their individual technologies while cooperating on developing next-generation semiconductor and system-level AC-DC and DC-DC products. This is expected to result in higher performance and higher value solutions for the computing, communications, and industrial markets.

"IKOR is an important and strategic acquisition for iWatt. We are excited at the prospect of continuing to leverage our technical expertise in digital power technology with the highly differentiated IP portfolio from IKOR to create highly innovative market driven products for integrated power delivery and control solutions," said Curtis Davis, president and CEO of iWatt.

The combination of iWatt's high-performance digital control technology and IKOR's system design expertise will result in a company that provides integrated circuits with leading-edge performance and highest customer value, according to the companies.

Curtis Davis will continue as of President and CEO of iWatt. John Wagner will remain in his current position of President of IKOR, reporting to Mr. Davis. Mr. Wagner will also serve as Senior Vice President of Business Development for iWatt.