Intersil Corporation Expands Power MOSFET Expertise

MILPITAS, Calif., Sept. 8, 2015 /PRNewswire/ -- Intersil Corporation (NASDAQ:ISIL), a leading provider of innovative power management and precision analog solutions, today announced the acquisition of Great Wall Semiconductor (GWS), a private technology company developing state-of-the-art power metal-oxide semiconductor field-effect transistor (MOSFET) technology for cloud computing, space and consumer applications.

GWS's design team brings valuable experience leveraging advanced design and process technology to enable power efficiency gains and footprint reduction in complex power systems. GWS's existing and emerging FET products in combination with Intersil's power controller portfolio, are expected to expand Intersil's addressable market and provide compelling integration opportunities to accelerate innovation in the development of next generation power stages.

"This small but experienced team will be a great asset as we continue to expand our power management capabilities," said Mark Downing, senior vice president of corporate strategy and infrastructure power products. "Intersil's strategy is based on establishing market leadership through the development of highly efficient and highly integrated power management solutions. This acquisition is aligned with that effort and nicely augments our existing team with additional intellectual property and talent."

"GWS has differentiated itself through expertise in Lateral Power MOSFET device and processing technology combined with miniature chipscale packaging," said Sam Anderson, CEO of Great Wall Semiconductor. "We have developed important intellectual property that enables energy savings and environmental progess that can now reach a broader set of customers and markets as we become part of Intersil."

Intersil acquired GWS for initial cash consideration of $19 million, with up to $4 million additional cash consideration based on the achievement of post-closing business metrics through 2016.  The acquisition is expected to be neutral to 2015 non-GAAP earnings.

About Great Wall Semiconductor
Based in Tempe, Arizona, GWS was founded in 2002, and has 10 employees. GWS has been awarded 22 patents related to lateral low voltage power MOSFET technology. The technology has been successfully deployed to enable efficient power conversion in cloud computing, space and mobile applications. For more information about GWS, visit http://www.greatwallsemi.com/

About Intersil
Intersil Corporation is a leading provider of innovative power management and precision analog solutions. The company's products form the building blocks of increasingly intelligent, mobile and power hungry electronics, enabling advances in power management to improve efficiency and extend battery life. With a deep portfolio of intellectual property and a rich history of design and process innovation, Intersil is the trusted partner to leading companies in some of the world's largest markets, including industrial and infrastructure, mobile computing, automotive and aerospace. For more information about Intersil, visit our website at www.intersil.com.

FORWARD-LOOKING STATEMENTS
Intersil Corporation press releases and other related comments may contain forward-looking statements. Such forward-looking statements are based upon Intersil's management's current expectations, estimates, beliefs, assumptions and projections about Intersil's business and industry. Words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "potential," "continue," "goals," "targets" and variations of these words (or negatives of these words) or similar expressions, are intended to identify forward-looking statements. In addition, any statements that refer to projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various risk factors. Important factors that may affect our business, future operating results and financial condition include: any faltering in global economic conditions, the highly cyclical nature of the semiconductor industry, intense competition in the semiconductor industry, unsuccessful product development or failure to obtain market acceptance of our products, downturns in the computing market, failure to make or deliver products in a timely manner, unavailability of raw materials, services, supplies or manufacturing capacity, delays in production or in implementing new production techniques, product defects or unreliability of products, adverse results in litigation matters, and other risk factors described in Intersil's Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and other Intersil filings with the U.S. Securities and Exchange Commission (which you may obtain for free at the SEC's web site at http://www.sec.gov). These forward-looking statements are made only as of the date of this communication and Intersil undertakes no obligation to update or revise these forward-looking statements. Intersil does not adopt and is not responsible for any forward-looking statements and projections made by others in this press release.

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SOURCE Intersil Corporation

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http://www.intersil.com

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