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News: Press Release: November 30, 2005
iWatt Announces the Acquisition of IKOR from Advanced Energy Industries, Inc.
The combination of iWatt and IKOR creates a supplier of best-in-class
integrated digital power technology solutions for both AC-DC and DC-DC applications
November 30, 2005 - Los Gatos, CA - iWatt, Inc., a leader in digital power conversion IC technology, announced today its acquisition of the IKOR division of Advanced Energy Industries, Inc. (NASDAQ: AEIS). The combination of iWatt’s high-performance digital control technology and IKOR’s system design expertise will result in a company that provides integrated circuits with leading-edge performance and highest customer value.
IKOR will become a wholly-owned subsidiary of iWatt. Product development activities will continue in the respective locations of both iWatt and IKOR in Los Gatos, California and Fort Collins, Colorado. Joining the two operations allows iWatt and IKOR to add additional resources to enhance and augment their individual technologies while cooperating on developing next-generation semiconductor and system-level AC-DC and DC-DC products. This will result in higher performance and higher value solutions for the computing, communications, and industrial markets.
“IKOR is an important and strategic acquisition for iWatt. We are excited at the prospect of continuing to leverage our technical expertise in digital power technology with the highly differentiated IP portfolio from IKOR to create highly innovative market driven products for integrated power delivery and control solutions, said Curtis Davis, president and CEO of iWatt.
Curtis Davis will continue as of President and CEO of iWatt. John Wagner will remain in his current position of President of IKOR, reporting to Mr. Davis. Mr. Wagner will also serve as Senior Vice President of Business Development for iWatt.
About iWatt, Inc.
iWatt, Inc. is a power control IC company that designs, develops and markets semiconductor and power system products for the computer, communication, consumer and industrial market segments. The company's patented digital control and power system architecture expertise raises the bar in power supply price/performance metrics. iWatt is currently working with market leaders in the computing, telecom, networking, flat panel display and portable device markets to develop high density, high value AC-DC and DC-DC power supplies. iWatt is based in Silicon Valley with headquarters in Los Gatos, CA, with offices in Fort Collins, CO; Taipei, Taiwan; Shenzhen, China; and Hong Kong. For more information, visit www.iwatt.com or call iWatt at (408) 374-4200.
Press Contact
Doyle L. Slack
Director, Corporate Marketing
408-385-1947
dslack@iwatt.com
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