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Tundra Semiconductor Acquires Potentia Semiconductor Corporation
Tundra Semiconductor Acquires Potentia Semiconductor Corporation.
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[{"type":"text","content":"\n\n\n\n\nTundra Broadens Product Portfolio with New Power Controllers\n\nOTTAWA, ON, April 7 /CNW Telbec/ - Tundra Semiconductor Corporation\n(TSX:TUN), the leader in System Interconnect, today announced the acquisition\nof Potentia Semiconductor Corporation (\"Potentia Canada\") for C$1.4 million in\ncash. The acquisition includes the power controller business of Potentia\nCanada which Tundra will continue to operate. Tundra is not acquiring the\ndigital video display device business of Potentia Canada. This business\nincluding all of its current employees and its customers will proceed as a new\nventure under the \"Potentia Semiconductor Corporation\" name.\nThe acquisition adds five new power controllers to Tundra's product\nportfolio. The Tsi205(TM), Tsi206(TM), Tsi248(TM), Tsi252(TM) and Tsi257(TM)\nPower Controllers are now available from Tundra's worldwide sales network.\nTundra's new Power Controllers offer customers an integrated solution to\ncontrol power distribution in next-generation communications, networking and\nstorage systems, resulting in faster time-to-market and reduced design\ncomplexity.\n\"This acquisition brings Tundra a number of positive benefits. A broader\nproduct offering to our current customer base as well as additional revenue,\nmargin and tax benefits,\" said Jim Roche, President and Chief Executive\nOfficer, Tundra. \"By adding these devices to our product portfolio, customers\ncan take advantage of Tundra's leadership in System Interconnect combined with\nindustry-leading power controller devices.\"\n\"Although we expect a one time gain in the range of $4.5 to $5.0 million\nto our GAAP earnings in this fiscal quarter, we are not adjusting our previous\nguidance nor do we expect a significant impact to our pro-forma earnings in\nthe future,\" said Norm Paquette, Chief Financial Officer, Tundra. \"Tundra will\nfully reinvest the product revenue, margin and tax benefits from this\nacquisition in its System Interconnect strategy.\"\n\nABOUT TUNDRA\n\nTundra Semiconductor Corporation (TSX:TUN) is the global leader in System\nInterconnect providing world-class support and leading edge semiconductor\nsolutions to the world's foremost communications, networking, storage system,\nand information technology vendors. Consistently delivering on system level\nperformance promises that reduce time to marke...