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Fairchild acquires Intersil's power business

Fairchild Semiconductor announced it has completed the acquisition of Intersil's discrete power business for approximately $338 million in cash. With the acquisition, South Portland, Maine-based Fairchild will become the second-largest supplier of MOSFET power-management components, representing a 20 percent share of the $3 billion market, Fairchild said in a statement. Chief Financial Officer Joe Martin said Fairchild expects its total power business to be on track for $1 billion in annual sales by the end of this year.

Fairchild Semiconductor announced it has completed the acquisition of Intersil's discrete power business for approximately $338 million in cash. With the acquisition, South Portland, Maine-based Fairchild will become the second-largest supplier of MOSFET power-management components, representing a 20 percent share of the $3 billion market, Fairchild said in a statement.

Chief Financial Officer Joe Martin said Fairchild expects its total power business to be on track for $1 billion in annual sales by the end of this year.