Japanese firm seals Irish deal

TECHNOLOGY

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 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