Littelfuse acquires IXYS Corp. for $750 million

CHICAGO - Littelfuse announced it will acquire IXYS Corp. a cash and stock transaction valued at approximately $750 million.

IXYS is a pioneer in the power semiconductor and integrated circuit markets with a focus on medium to high voltage power control semiconductors across the industrial, communications, consumer and medical markets. IXYS has a broad customer base, serving more than 3,500 customers through its direct sales force and global distribution partners. IXYS reported revenues of $322 million in its fiscal 2017.

The combined company is expected to have annual revenues of approximately $1.5 billion.

"As the largest acquisition in our 90-year history, this is an exciting milestone for Littelfuse," said Littelfuse President and Chief Executive Officer Dave Heinzmann. "IXYS' extensive power semiconductor portfolio and technology expertise fit squarely within our strategy to accelerate our growth within power control and industrial OEM markets. The combination of Littelfuse and IXYS unites complementary capabilities, cultures and relationships."

Nathan Zommer, chairman and CEO of IXYS added the two companies have "long histories of innovation and customer-focused product development.

"Together, we will embrace the entrepreneurial spirit that has contributed to IXYS' success in the power semiconductor and integrated circuits market," Zommer added.