Power Integrations Purchased CT-Concept Technology for $115m

Published:2012/4/5 2:42:00 Author:Li xiao na From:SeekIC

The Switzerland-based high power device firm CT-Concept Technology AG has been bought by Power Integrations with $115m (105m Swiss francs) in cash. Concept is based in Biel, Switzerland. Drivers for high-voltage IGBT modules are the main products of Concept. These modules can be used in high-voltage power conversion applications including industrial motor drives, renewable energy generation, electric trains and trams, high-voltage DC transmission, electric cars and medical equipment.

Concept is suited to Power Integrations’ strategy, for it aims to offer the most innovative high-voltage power-conversion products across an ever-wider range of power levels and applications. There are approximately 65 people and 14 patents in Concept. The other patents are under pending.

The addressed market of Concept has reached $500m, which will expand with the growth in renewable energy, electric vehicle and high efficiency industrial motors. The efficacy of these clean technologies depends on cost-effective, efficient, reliable power electronics like Concept’s IGBT drivers. The management team and employees will still remain at Biel. The firm’s centre for high-voltage driver design will be located at Biel. It is estimated that the acquisition will add approximately 10% to Power Integrations’ annual revenues. What is more, the transaction is expected to be immediately accretive to its non-GAAP gross margin.

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