Intersil Acquires Techwell Inc. (ISIL, TWLL)
Intersil Corp. (NASDAQ: ISIL) has announced its acquisition of Techwell Inc. (NASDAQ: TWLL) for $418 million. The deal will help Intersil Corp. (ISIL) augment its industrial business segment. The semiconductor company has agreed to pay $18.50 for each share of Techwell Inc. (TWLL). The deal price is a 49% premium to the stock’s Friday closing price. The semiconductor market is expected to see a good number of M&A deals in 2010.
Techwell Inc. designs and sells mixed-signal video solutions. Its product portfolio includes network video recorders and industrial DVDs. Intersil president and chief executive officer Dave Bell said that he expects the acquisition to help Intersil in reducing its costs and to increase efficiencies. Intersil had earlier announced its plans to acquire Rock Semiconductor.
