Littelfuse, Inc. (Nasdaq/NMS:LFUS) announced that it has completed the previously announced acquisition of Concord Semiconductor and its major subsidiaries for $25 million in cash and the assumption of $1.4 million in net debt. The acquisition is expected to be slightly accretive to earnings. Concord Semiconductor, which operates facilities in Taiwan and China, is a former supplier to Littelfuse. The company has annual sales of approximately $15 million, excluding sales to Littelfuse.
"Concord Semiconductor is an excellent fit for Littelfuse. The acquisition adds silicon wafer manufacturing to our capabilities in Asia and expands our presence in the TVS diode market. Concord's leadership and employee team provide a strong base for this business. We plan to invest in the continued growth of this operation as we expand our organization and facilities in Asia to be closer to our existing customers, add new customers and participate in the growth of the entire region," said Gordon Hunter, Chief Executive Officer of Littelfuse.
Concord Semiconductor designs and manufactures TVS diodes and other overvoltage circuit protection products for the automotive, consumer electronics, computer, industrial and telecom markets.