Advanced Analogic Technologies Incorporated (AnalogicTech) (Nasdaq: AATI), a developer of power management semiconductors for mobile consumer electronic devices, today announced that it has entered into a definitive agreement to acquire the power management analog business of IPCore Technologies Corporation, including IPCore’s subsidiary Analog Power Semiconductor Corporation (AP Semi) and certain related assets.
Focused on the design of highly integrated analog power management ICs, AP Semi develops key components for many of the same mobile consumer electronics markets AnalogicTech currently targets. AP Semi’s customers are primarily located in China, Taiwan, and Japan. The acquired business has 52 employees, including approximately 32 engineers.
“The acquisition of AP Semi will allow us to immediately expand our engineering team and establish a fully-staffed Shanghai design center,” said Richard K. Williams, President, CEO, and CTO of AnalogicTech. “This move complements our ongoing product design and development activities targeted at portable consumer electronic devices, such as digital still cameras, personal media players, and mobile phones. It also will allow us to extend value to our customers by increasing our presence in key markets in China, Japan, and Taiwan, and provide local design support.”
Under the terms of the agreement, AnalogicTech will purchase AP Semi and certain related assets from IPCore for approximately $22 million in cash, in addition to certain transaction related expenses. Subject to customary closing conditions, the acquisition is expected to close in early October 2006 and to be neutral to earnings in the second half of 2007.
IPCore Technologies is a Cayman Islands registered company with offices in the United States, Japan, and China. It is the first Pure Design Foundry Company in China to provide a One-Stop-Silicon-Solution to domestic and international IC product companies. Founded in 2001 with headquarters in Shanghai’s CaoHeJing Hi-Tech Park, IPCore has strong partnerships with various wafer foundries, testing and packaging houses, and global tier-one IC companies. IPCore’s investor base is composed of a notable consortium of international venture capital firms including Walden International, Pacific Venture Group, 3i, Vertex, Sycamore Ventures, and Pan- Pacific Venture.
Advanced Analogic Technologies Incorporated (AnalogicTech) is a supplier of Total Power Management(TM) semiconductor solutions for mobile consumer electronic devices, such as wireless handsets, notebook and tablet computers, smartphones, digital cameras, wireless LAN, and personal media players. The company focuses its design and marketing efforts on the application-specific power management needs of consumer, communications, and computing applications in these rapidly evolving devices. AnalogicTech also develops and licenses device, process, package, and application-related technology. AnalogicTech is headquartered in Sunnyvale, California, with offices in South Korea, Taiwan, Hong Kong, Macau, Shanghai, Shenzhen, Beijing, Japan, Sweden, UK, and France, as well as a worldwide network of sales representatives and distributors. The company is listed on the NASDAQ exchange under the ticker symbol AATI.
AnalogicTech and the AnalogicTech logo are trademarks of Advanced Analogic Technologies Incorporated.