Intersil to acquire Elantec for $AU2.8 billion
Thursday, 21 March, 2002
Intersil and Elantec Semiconductor have announced they intend to merge in a cash and stock transaction worth approximately $AU2.8 billion.
Elantec specialises in high performance analogue ICs, and serves the optical storage and flat-panel display markets. The Elantec merger will mark Intersil's third wireless acquisition.
"This combination of two synergistic high growth companies adds Elantec's leadership in analogue optical storage and flat panel displays to Intersil's leadership in wireless LAN and power management," said Greg Williams, Intersil's president and CEO.
The merger has been approved by the boards of both companies and is expected to close by June 2002.
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