Irish computer chip company Powervation sells for €64m
Powervation, a Cork-based designer and producer of ultra energy-saving computer chips, has been acquired by Japanese electronic parts manufacturer ROHM for about $70m (€64m) in an all-cash deal.
Powervation's key founders in 2006 were Dr Karl Rinne, a lecturer at the University of Limerick and his then research student Dr Eamon O'Malley.
The firm's computer chips are used in the data centres of firms such as Google and Amazon.
It completed a €4m funding round last year in which it raised capital from five investors including industry heavyweights Intel and Semtech Corporation, a large US player in the industry which has annual sales of €480m.
ROHM, a $3bn global leader in analog and power semiconductors, supplies a diversified global customer base in the consumer, automotive and industrial markets.
A statement joint statement from the two companies said: "By acquiring Powervation, ROHM will gain leading-edge digital power technologies to strengthen its product offerings in the rapidly-growing cloud, data-center, and communications infrastructure markets.
"This acquisition will also enable ROHM to develop advanced digital power solutions for a broader range of markets and applications with Powervation’s flexible controller platform."