Leadis Technology Acquires IC Power Management Supplier Acutechnology Semiconductor
Leadis Technology Inc., an analog and mixed-signal semiconductor developer of color display drivers, LED drivers, and audio ICs for mobile electronics devices, announced the acquisition of Acutechnology Semiconductor Inc., a privately held analog semiconductor company specializing in power management technologies.
Leadis claims that the Acutechnology acquisition enhances its current analog product portfolio, adding approximately 20 products, patent protected intellectual property, and an experienced analog product development team.
"The addition of Acutechnology will accelerate our growth in LED driver ICs and provide us a path to greater integration by adding power management functions to both our LED driver and Audio product portfolios," said Mr. Tony Alvarez, President and CEO of Leadis. "This acquisition supports our strategy to reposition Leadis away from commodity display drivers and into high-value analog and mixed-signal products for ‘Sight, Sound, and Touch’ in the portable space."
The Acutechnology team will join Leadis immediately. Paolo Menegoli, CEO of Acutechnology, who will lead Leadis’ power management products team, commented, "We are very pleased to join Leadis. Leadis provides us immediate access to a wide sales channel, offering us the opportunity to sell our existing products to a much broader customer base. Additionally, we will seek to leverage Leadis’ relationships with top-tier customers in the mobile space."
Under terms of the agreement, Leadis acquired Acutechnology for $5 million in cash. Additionally, Leadis will pay Acutechnology employees joining Leadis bonuses in future periods for achieving performance goals on newly introduced products. Leadis expects much of the purchase price will be recorded as intangible assets in its fourth quarter results. Leadis is expected to report its fourth quarter 2007 results in late January.
