Littelfuse, Inc. of Chicago, Illinois announced the completed acquisition of IXYS Corporation. IXYS is a maker of medium- to high-voltage power semiconductor components for applications including industrial, communications, consumer and medical devices. After the transaction’s close, IXYS founder Dr. Nathan Zommer was appointed to the Littelfuse Board of Directors, increasing the board’s size to nine members.
Littlefuse Expects $30 Million in Annaulized Cost Savings from IXYS Corporation Acquisition
Littelfuse expects to achieve over $30 million in annualized cost savings within the first two years after closing. Also, given the companies’ complementary product offerings and their combined customer base, the combined company is expected to create significant revenue synergy opportunities.
In total, 50% of IXYS stock was converted into the cash consideration and 50% into the stock consideration for the transaction.
“Today marks a significant step forward in our company strategy to accelerate growth within the power control and industrial OEM markets,” said Dave Heinzmann, president and CEO of Littelfuse. “The combination of our companies brings together a broad power semiconductor portfolio, complementary technology expertise, and a strong talent pool.”