Dialog Semiconductor to acquire iWatt in $300m deal

Dialog Semiconductor has entered into an agreement to acquire iWatt for a cash payment of approximately $310 million, with additional consideration of up to $35 million. Headquartered in Silicon Valley, California, with approximately 180 employees worldwide, iWatt is a leading provider of digital power management integrated circuits. The company has a strong design and application engineering presence in Asia.

iWatts solutions are designed into the products of leading global OEMs and it has shipped more than one billion power management ICs since 2007. Its PrimAccurate technology platform enables high performance, energy-efficient, small form-factor and cost-effective solutions for markets such as AC/DC power conversion and LED Solid State Lighting (SSL).

The acquisition brings with it over 110 patents and a company growing at an impressive 46 per cent, revenues were $74m in 2012.

The overall global power management semiconductor market is expected to grow to $11.5 billion by 2015, according to Gartner. The acquisition of iWatt will not only diversify Dialog’s product portfolio but will provide the company with an entry into a number of high growth segments including: AC/DC power conversion and LED solid state lighting (SSL).

The acquisition is being funded from both Dialog’s existing cash resources and additional debt facilities of $125 million.

Commenting Dialog’s CEO Jalal Bagherli said, “We see the acquisition as highly complementary to our existing PMIC business enabling Dialog to address adjacent emerging power management segments, including cutting-edge AC/DC solutions for next generation fast portable chargers as well as ICs for LED solid state lighting.”

“iWatt has been shipping products to numerous top-tier customers and is expected to increase our future business opportunities with market leading customers such as Samsung, HTC and Nokia in the portable segment, and GE, Osram and Philips in the fast growing solid state lighting market.” concluded Bagherli.




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