Tuesday, August 4, 2009

Intersil Buys Quellan

Milpitas-based Intersil announced Tuesday afternoon that it is in a definitive agreement to acquire Santa Clara-based Quellan, a developer of high performance, analog signal processing ICs. Financial terms of the buy were not disclosed. Quellan develops signal processing ICs used in networking, high performance computing, storag,e and consumer electronics. Intersil said the acquisition will have an "immaterial" impact on revenue and earnings for Q3. Quellan was backed by W.L. Gore & Associates, MiTAC, JAFCO, and Glynn Capital Management, Menlo Ventures, Yamacraw Capital Seed Fund, Cordova Ventures, Samsung Ventures America, and VentureTech Alliance. The firm had raised at least $37M in three rounds of funding from its backers.