IR to buy CHil for $75M

El Segundo, Calif. — International Rectifier Corp. (IR) has signed a definitive agreement to acquire privately-held CHiL Semiconductor Corp. for $75 million in cash, subject to working capital adjustments. IR says the acquisition will expand the company’s technology by adding a digital power management platform that improves energy efficiency in a variety of applications, including computing systems, graphics, servers and gaming.

The transaction is expected to close in the first quarter of 2011. The acquisition, which initially adds approximately $3 million of additional operating expenses per quarter, is expected to be accretive to IR’s earnings per share in the company’s 2012 fiscal year.

Positioning IR in the digital power market, CHiL uses patented digital techniques in combination with mixed signal technology to deliver high performance multi-phase power solutions that save energy. The open architecture approach to digital control, where customers can tailor power systems for cost and performance goals, enables significant board space and bill-of-materials reduction by integrating many analog features into the digital core of the technology, said IR.