US semiconductor company IXYS soared 40.4% on the day, reporting $22.4. According to the news, the United States Litech Fuse Company announced that it will acquire IXYS for US$750 million in cash and stock, equivalent to US$23/share, with a premium of over 44%. It is rare. The following is a detailed report:
$750 million in transaction content
A few days ago, Littelfuse and IXYS announced that the two sides have reached a final agreement. According to the agreement, the transaction is in the form of cash and stocks. The combined company is expected to receive approximately $1.5 billion in annual revenue and is expected to receive the following strategic and financial benefits:
A broader technology platform and growth in industrial and power market customers;
Provide a more competitive power control product portfolio to the automotive electronics market and expand the component usage of each vehicle;
Increase the engineering and intellectual property of high voltage power devices and SiC semiconductor processes;
The market share has increased, the number of shipments has increased, and the right to speak in the semiconductor industry has increased;
The world's major electronic distribution partnerships can complement each other and promote cross-selling;
It is expected that in the first two years after the completion of the transaction, Littelfuse expects to achieve annualized cost savings of more than $30 million.
Dette Heinzmann, President and CEO of Littelfuse, said, “This is the largest acquisition since the company was founded 90 years ago. The IXYS portfolio will accelerate our growth in the power control and industrial OEM markets.”
IXYS (Chinese name: Isais) is headquartered in Silicon Valley, USA, established in 1983, main: MOSFET, IGBT, Thyristor, SCR, rectifier bridge, diode, DCB block, power module, Hybrid, transistor, inverter, RF module And microcontroller. The business is distributed in the consumer, automotive, medical, telecommunications, industrial and energy sectors. The product features high voltage and high power, covering 90% of the power control market. It has 10 departments worldwide and employs more than 1,000 employees. Asia, Europe, North America. Agents in IXYS China are: Pengyuan, General, and AsiaInfo. Initially, IXYS provided high-power IGBTs for high-speed trains. It was the first company in the United States to engage in IGBT products. In 2001, the company acquired British semiconductor manufacturer westcode; in December 2009, IXYS acquired Zilog, a US 8 and 16 MCU manufacturer; in July 2013, Samsung divested 4 and 8 bit MCU business and was acquired by IXYS.
Littelfuse is a world-renowned supplier of circuit protection devices. Founded in 1927, the company's main products are power devices and sensors for protection relays, heavy industrial electrical control centers, industrial electronic modules, sensors and commercial machinery vehicles. Among them, the circuit protection business accounted for 66% of Littelfuse's overall sales; power control accounted for 20%; sensor business revenue accounted for 14%. Today, Littelfuse has more than 30 sales, manufacturing and engineering centers and a worldwide network of distribution channels. With 7,000 employees worldwide and 5 factories in the Asia Pacific region, 4 in China and 1 in the Philippines, all electronic products are basically produced in Asia, and the Asian market contributes 40% of sales. 90% of Littelfuse's products are sold through distribution channels. In the Chinese market, Littelfuse focuses on security, power, LED lighting, white goods, telecommunications and automotive electronics. At present, Littelfuse's channel partners in China include global authorized distributors such as Arrow and Fuchang, as well as local distributors such as Coton, Shanghai Charles, Beineng International, Shiqiang, and AsiaInfo, as well as Digi-Key and Mouser. Directory distributors such as e-meeting.
Littelfuse is a well-known snake in the semiconductor industry. In the last 20 years, it has acquired more than a dozen semiconductor companies. Recent acquisitions include the circuit protection business of TE connectors, and the ON Semiconductor's TVS diode portfolio, temperature sensor manufacturer U.S.Sensor. This time, Littelfuse acquired 750 million US dollars to acquire IXYS, which is the largest M&A plan in the company's history, and is also a large-scale original M&A case in the power device market. Through the acquisition of IXYS, Littelfuse complements the high-voltage MOS tube and IGBT product portfolio, accelerating the power device business share, and extending to the MCU market, while ensuring a stable global supply capacity. Across the sensor, circuit protection, power devices, MCU four markets, this will make the old original Littelfuse become the versatile giant of semiconductor.