Power Integrations Agrees to Acquire CT-Concept Technologie AG



Power Integrations, the leader in high-voltage integrated circuits for energy-efficient power conversion, today announced that it has signed an agreement to acquire privately held CT-Concept Technologie AG (known as CONCEPT). Founded in 1986 and based in Biel, Switzerland, CONCEPT is a developer of highly integrated, energy-efficient drivers for high-voltage IGBT modules. The company's products are used in a range of high-voltage power-conversion applications including industrial motor drives, renewable energy generation, electric trains and trams, high-voltage DC transmission, electric cars and medical equipment. CONCEPT employs approximately 65 people and holds 14 patents with additional patents pending. Balu Balakrishnan, president and CEO of Power Integrations, commented: "Our strategic focus is to offer the most innovative high-voltage power-conversion products across an ever-wider range of power levels and applications. CONCEPT fits perfectly within this strategy. Their innovative products bring integration, reliability and energy efficiency to very high-power applications - the same attributes we bring to lower-power applications. CONCEPT's addressable market, already approaching $500 million, continues to expand with the growth in renewable energy, electric vehicles and high-efficiency industrial motors, and the efficacy of these clean technologies depends on cost-effective, efficient, reliable power electronics like CONCEPT's market-leading IGBT drivers. These dynamics make CONCEPT an extremely attractive business and an exciting addition to our company." CONCEPT's management team and employees will remain at the company's Biel headquarters, which will become Power Integrations' center of excellence for high-voltage driver design. Wolfgang Ademmer will continue as president of CONCEPT and will also become a vice president of Power Integrations, reporting directly to Mr. Balakrishnan. Mr. Ademmer commented: "We are very pleased to become part of Power Integrations, a company that shares our singular focus on delivering the most innovative power-conversion products for our respective end markets. Power Integrations' scale and vast customer base will help us accelerate the adoption of our products around the world. As part of Power Integrations, we can strengthen our unique position in the value chain providing innovative driver technology compatible with all major IGBT module manufacturers." Jefferies International Ltd is acting as sole financial advisor to CONCEPT. Walder Wyss is acting as legal counsel. About Power Integrations Power Integrations, Inc., is a Silicon Valley-based supplier of high-voltage integrated circuits and other high-voltage components used in energy-efficient power conversion. The company's innovative technologies enable compact, reliable AC-DC power supplies for a vast range of electronic products including mobile devices, TVs, PCs, appliances, smart utility meters and LED lights. Since its introduction in 1998, Power Integrations' EcoSmart® energy-efficiency technology has prevented billions of dollars' worth of energy waste and millions of tons of carbon emissions. Reflecting the environmental benefits of the company's products, Power Integrations' stock is included in the NASDAQ® Clean Edge® Green Energy Index, The Cleantech Index®, and the Ardour Global IndexSM. For more information, including design-support tools and resources, please visit www.powerint.com; visit Power Integrations' Green Room for a comprehensive guide to energy-efficiency standards around the world. About CONCEPT CONCEPT is a worldwide technology and market leader in IGBT drivers for mid- to high-power IGBT modules. The company has more than 25 years of experience in the design of sophisticated IGBT drivers and offers an unequalled selection of products for applications including industrial motor drives, renewable energy, electric trains, hybrid electric vehicles and a variety of other end markets. CONCEPT's products, which are based on a proprietary ASIC chipset, are distinguished by innovative technology, outstanding functionality, unrivalled quality and an unmatched price-to-performance ratio. CONCEPT is based in Biel, Switzerland. www.powerint.com www.igbt-driver.com