Slide 1: Littelfuse to Acquire IXYS Corporation
Littelfuse to Acquire IXYS Corporation Accelerating Growth in Power Control August 28, 2017 1
Slide 2: Additional Information
Additional Information Forward Looking Statements This presentation contains forward-looking statements, which address a variety of subjects including, for example, the expected timetable for closing of the proposed transaction between Littelfuse, Inc. (“Littelfuse”) and IXYS Corporation (“IXYS”) an
Slide 3: Additional Information cont'd
Additional Information cont’d Non-Solicitation This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registrati
Slide 4: Transaction Summary
Transaction Summary ▪ IXYS stockholders receive, for each IXYS share, $23.00 in cash or 0.1265 of a Littelfuse common share Purchase ▪ Transaction Equity Value of ~$750M plus assumption of net cash position of $95M (Enterprise Value of ~$655M) (1) Price ▪ Enterprise Value / Adjusted TTM EBITDA (2) o
Slide 5: IXYS Snapshot
IXYS Snapshot Global Player in Power Semiconductors Key Highlights Select Customers and Distributors ▪ Multi-market, integrated high power semiconductor company ▪ FY 2017 sales $322 million ▪ Worldwide operations with ~1,000 employees ▪ Primary manufacturing facilities in US, England and Germany ▪ M
Slide 6: Alignment With Strategy and M&A Priorities
Alignment With Strategy and M&A Priorities ✓ Strategy to Accelerate Growth in Power Control ✓ Alignment With Strategic M&A Focus Areas Geographic / Core Consolidation Technology Market Platform Building Leverage Our Protect Access Position Control Within Global Sense Mega Trends Accelerated Circuit
Slide 7: Strategic Rationale
Strategic Rationale Clear Alignment to Five-Year Littelfuse Strategy Expanded Complementary Accelerates High Footprint in Technology and Customers and Growth Combined Strategic Markets Product Expansion Channels Opportunities Critical Scale ▪ Significant expansion ▪ Adds significant ▪ IXYS’ industri
Slide 8: Pro Forma Combination Overview
Pro Forma Combination Overview + Revenue (1) $1,164M $325M $1,489M Adj. EBITDA Margin(2) / Synergized Adj. EBITDA 23%(2) 14%(2) 21%(2) / 23%(3) Margin (3) Electronics Electronics Electronics Revenue by Industrial Auto / Industrial Industrial Auto / End Market(4) Transportation Transportation Auto /
Slide 9: Transaction Details
Transaction Details ▪ Financing ▪ 50% of IXYS stock will be converted into the cash election and 50% converted to the equity election ▪ Total cash funding requirement of ~$375M ▪ Cash funding via cash on hand and additional debt ▪ Balance sheet maintains flexibility with pro forma Debt to Adjusted T
Slide 10: Summary
Summary ▪ Littelfuse to acquire IXYS for ~$750M transaction equity value (~$655M enterprise value) (1) ▪ IXYS stockholders receive $23 in cash or 0.1265 of a Littelfuse common share per IXYS share ▪ Transaction expected to close in Q1 2018 ▪ Aligns with five-year strategy to accelerate growth across
Slide 11: Thank You
Thank You Littelfuse, Inc. © 2017 11
Slide 12: Appendix – Non-GAAP/Pro Forma Reconciliations
Appendix – Non-GAAP/Pro Forma Reconciliations Littelfuse, Inc. © 2017 12