TUNDRA ACQUIRES POTENTIA SEMICONDUCTOR
OTTAWA - Tundra Semiconductor Corp. has acquired Potentia Semiconductor Corp. for $1.4 million. The acquisition includes the power controller business of Potentia which Tundra says it will continue to operate.
Tundra is not acquiring the digital video display device business of Potentia. This business, including all of its current employees, will continue under the Potentia Semiconductor Corp. name.
The acquisition adds five power controllers to Tundra’s product portfolio. The Tsi205TM, Tsi206TM, Tsi248TM, Tsi252TM and Tsi257TM power controllers are now available from Tundra’s worldwide sales network. Tundra’s new power controllers offer customers an integrated solution to control power distribution in next-generation communications, networking and storage systems, resulting in faster time-to-market and reduced design complexity.
"This acquisition brings Tundra a number of positive benefits," said Jim Roche, president and chief executive officer of Tundra. "A broader product offering to our current customer base as well as additional revenue, margin and tax benefits. By adding these devices to our product portfolio, customers can take advantage of Tundra’s leadership in system interconnect combined with industry-leading power controller devices."
"Although we expect a one time gain in the range of $4.5 to $5.0 million to our GAAP earnings in this fiscal quarter, we are not adjusting our previous guidance nor do we expect a significant impact to our pro-forma earnings in the future," said Norm Paquette, chief financial officer of Tundra.