IXYS Completes Acquisition of WestcodeJanuary 20, 2002 by Jeff Shepard
IXYS Corp. (Santa Clara, CA) announced that it has acquired, for approximately $9,000,000 in cash, 100 percent of the equity of Westcode Semiconductors Ltd. (Chippenham, England). IXYS expects the transaction to be accretive to earnings per share.
Westcode, an ISO 9001 qualified company, manufacturers and sells a portfolio of high-power semiconductor products that will supplement the existing IXYS product line. Westcode's products are used in a variety of applications, including induction heating, welding, motion controls (ac and dc drives), traction, electric vehicles and HVDC. Westcode will operate as a wholly owned subsidiary of IXYS with Bill Jones continuing in his present capacity as president.
"We are delighted to welcome Westcode to the IXYS family. With a reputation for quality and innovation, Westcode's product portfolio is one of the strongest in the business," stated Nathan Zommer, CEO and president of IXYS. "IXYS has a corporate commitment to deliver unsurpassed service and world-class products to our customers. This commitment is further strengthened with the addition of Westcode and its precision manufacturing capability combined with its dedication to quality."
"We have been partners with IXYS for several years. This has given us a unique view of IXYS' superb and innovative technology as well as its emphasis on customer satisfaction," said Bill Jones, president of Westcode. "We are glad to be part of the IXYS family. Like IXYS, we put the needs of our customers first. This combination with IXYS brings to both our customers a strong commitment to excellence and innovation."