News

Xicor Shareholders Approve Merger with Intersil

August 01, 2004 by Jeff Shepard

Xicor Inc. (Milpitas, CA), a supplier of high-performance, mixed-signal integrated circuits, reported a successful shareholder vote, with 96% of the voting Xicor shareholders approving the transaction. Intersil expects to record a one-time charge for the purchased in-process research and development expenses related to the transaction in its third quarter financial statements. The amount of the charge has not yet been determined.

"We're pleased by the vote and the imminent closing of this merger, which will accelerate our progress toward making Intersil a premier high-performance analog company," said Rich Beyer, Intersil's president and CEO. "Throughout the integration process we will place Intersil and Xicor customers first and focus on maintaining high customer satisfaction. I am extremely pleased with the quality of our new team and I'm very happy that Lou DiNardo will join Intersil's management team as executive vice president and general manager of a new product group comprised of the power management and Xicor product portfolios."