Tundra Semiconductor Corporation (TSX:TUN), the leader in System Interconnect, today announced the acquisition of Potentia Semiconductor Corporation (“Potentia Canada”) for C$1.4 million in cash. The acquisition includes the power controller business of Potentia Canada which Tundra will continue to operate. Tundra is not acquiring the digital video display device business of Potentia Canada. This business including all of its current employees and its customers will proceed as a new venture under the “Potentia Semiconductor Corporation” name.
The acquisition adds five new power controllers to Tundra’s product portfolio. The Tsi205TM, Tsi206TM, Tsi248TM, Tsi252TM and Tsi257TM Power Controllers are now available from Tundra’s worldwide sales network. Tundra’s new Power Controllers offer customers an integrated solution to control power distribution in next-generation communications, networking and storage systems, resulting in faster time-to-market and reduced design complexity.
“This acquisition brings Tundra a number of positive benefits. A broader product offering to our current customer base as well as additional revenue, margin and tax benefits,” said Jim Roche, President and Chief Executive Officer, Tundra. “By adding these devices to our product portfolio, customers can take advantage of Tundra’s leadership in System Interconnect combined with industry-leading power controller devices.”
“Although we expect a one time gain in the range of $4.5 to $5.0 million to our GAAP earnings in this fiscal quarter, we are not adjusting our previous guidance nor do we expect a significant impact to our pro-forma earnings in the future,” said Norm Paquette, Chief Financial Officer, Tundra. “Tundra will fully reinvest the product revenue, margin and tax benefits from this acquisition in its System Interconnect strategy.”
Tundra Semiconductor Corporation (TSX:TUN) is the global leader in System Interconnect providing world-class support and leading edge semiconductor solutions to the world’s foremost communications, networking, storage system, and information technology vendors. Consistently delivering on system level performance promises that reduce time to market, Tundra System Interconnect ensures market advantage in wireless infrastructure, storage networking, network access, military, industrial automation, and information technology applications.
TUNDRA is a registered trademark of Tundra Semiconductor Corporation (Canada, U.S. and U.K.). TUNDRA and the Tundra logo are registered marks of Tundra Semiconductor Corporation (Canada – registration in the United States, European Union, and People’s Republic of China pending). Tsi205, Tsi206, Tsi248, Tsi252 and Tsi257 are trademarks of Tundra Semiconductor Corporation.
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