SAN JOSE, Calif., May 14, 2013 /PRNewswire/ -- Altera Corporation (NASDAQ: ALTR) today announced it has signed a definitive merger agreement to acquire Enpirion, Inc., the industry's leading provider of high-efficiency, integrated power conversion products known as PowerSoCs (power system-on-chip). The combination of Altera's FPGAs with Enpirion's PowerSoCs will offer customers higher performance, lower system power, higher reliability, smaller footprint and faster time-to-market.
"Power is increasingly a strategic choice for product differentiation in communications, computing and enterprise, and industrial applications," said John Daane, president, CEO and chairman of Altera. "By adding a power group to Altera, we will bring even more value to system-level designs. Altera's FPGA roadmap will be enhanced significantly with the addition of Enpirion's power technologies."
Ashraf Lotfi, founder and CEO of Enpirion, will serve as an Altera Fellow and chief technologist for Altera's newly formed Power business unit.
"Joining Altera will enhance the Enpirion team's ability to solve tough power challenges," said Lotfi. "Our leadership in high-efficiency power conversion solutions complements Altera's leadership in FPGAs. Enpirion employees have built an innovative company, and we look forward to building upon this foundation with Altera."
About Enpirion PowerSoCs
Enpirion's key enabling power technologies—high-frequency switching, magnetics and packaging—are engineered into complete power system-on-chip products. Enpirion's portfolio of DC-DC converter PowerSoCs with integrated inductors enable the industry's smallest solution footprints and are recognized for their high efficiency, low noise, exceptional thermal performance, high reliability and ease-of-use. Unlike discrete power products, Enpirion's turnkey solutions give designers complete power systems that are fully simulated, characterized, validated and production qualified.
Guidance and Conference Call
Altera's previous guidance for 2013 operating expense is increased by $6 million as a result of today's announcement primarily for selling, general and administrative expenses, including one-time acquisition costs. Research and development expense will be substantially consistent with our previous guidance, as unrelated cost savings will offset the additional research and development expense incurred as a result of this acquisition.
A conference call will be held today at 8:00 a.m. Pacific time to discuss this transaction. The web cast and subsequent replay will be available in the Investor Relations section of the company's website at Altera.com. A telephonic replay of the call may be accessed later in the day by calling (719) 457-0820 and referencing confirmation code 258712. The telephonic replay will be available for two weeks following the live call.
Altera® programmable solutions enable designers of electronic systems to rapidly and cost effectively innovate, differentiate and win in their markets. Find out more about Altera FPGAs, SoCs, CPLDs, and ASICs at Altera.com. Follow Altera via Facebook, Twitter, LinkedIn, Google+ and RSS, and subscribe to product update emails and newsletters.
Enpirion, Inc. is a privately-held, analog semiconductor company with expertise in highly integrated power conversion solutions. Enpirion is headquartered in Hampton, New Jersey, and has successful engagements at top-tier customers worldwide in the enterprise, communications, industrial, and storage industries. Enpirion.com
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Statements in this press release that are not historical are "forward-looking statements" as the term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally written in the future tense and/or preceded by words such as "will," "expects," "anticipates," or other words that imply or predict a future state. Forward-looking statements include, but are not limited to, the competitiveness of our next-generation products; the enhancement of our product offerings resulting from our acquisition of Enpirion; and projections regarding 2013 operating expenses. Investors are cautioned that all forward-looking statements in this release involve risks and uncertainty that can cause actual results to differ from those currently anticipated, due to a number of factors, including without limitation, current global economic conditions, customer business environment, market acceptance of the company's products, product introduction schedules, the rate of growth of the company's new products including Cyclone® V, Cyclone IV, Arria® V, Arria II, Stratix® V, Stratix IV FPGAs, MAX® V CPLDs and HardCopy® IV device families, as well as changes in economic conditions and other risk factors discussed in documents filed by the company with the Securities and Exchange Commission (SEC) from time to time. Copies of Altera's SEC filings are posted on the company's website and are available from the company without charge. Forward-looking statements are made as of the date of this release, and, except as required by law, the company does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.
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