SANTA CLARA, Calif., Sept. 11, 2008 – QP Semiconductor, a privately held fabless semiconductor company that provides integrated circuits for the military, aerospace and high reliability industries, has agreed to be acquired by e2v, an England-based manufacturer of high technology components and sub-systems.
The acquisition, which is expected to meet shareholder approval and regulatory requirements by Sept. 30, 2008, will serve an expanded global base of customers seeking high-reliability, mission critical components.
With sales of approximately $360 million and 1800 employees worldwide, publicly held e2v is much larger than privately held QP Semiconductor, with sales of about $24 million and 90 employees. Significantly, both firms are solidly profitable with strong balance sheets, and the product portfolios of the two companies are entirely complementary.
“We will continue to operate from Silicon Valley with our existing management team and employees, and our product will continue to be sold under the QP Semiconductor brand,” said John Stannard, QP Semiconductor co-founder and president. “Once the acquisition is completed, the only difference our existing customers should see is a higher level of responsive customer service. We look forward to advancing our manufacturing and re-engineering of very complex circuitry to new levels.”
“The proposed acquisition is an important step for us in establishing an operational footprint in the USA,” said Keith Attwood, e2v’s CEO. “It will increase our market share in the aerospace and defense sector and expand our relationship with contractors to the US Department of Defense.”
For more information, visit: www.e2v.com or www.qpsemi.com