San Jose, Calif., May 14, 2013—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 www.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.
