IR acquires power IC line from Fairchild to bolster military business

IR acquires power IC line from Fairchild to bolster military business
EL SEGUNDO, Calif. -- International Rectifier Corp. today announced it has acquired the high-reliability, power MOSFET product line from Fairchild Semiconductor International for approximately $29.6 million cash.

These power management semiconductors are used extensively in aerospace and defense applications, according to International Rectifier. The El Segundo-based company expects the product line to contribute approximately $10 million in revenue in the first 12 months and to be accretive immediately.

"The product line we've sold to International Rectifier was a small part of the portfolio we acquired when we purchased Intersil's Discrete Power Business Division in March of last year," said Kirk Pond, Fairchild's president, CEO and chairman.

"Since Fairchild's end-market focus has never concentrated on defense and aerospace applications, it made sense to sell this line to a mainstream defense component supplier like International Rectifier," Pond said.