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Fairchild Semiconductor tenders Offer for System General

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Fairchild Semiconductor has announced its expectations to launch a tender offer to acquire 100 percent of the outstanding shares of Taipei-based System General Corporation.

Fairchild Semiconductor has announced its expectations to launch a tender offer to acquire 100 percent of the outstanding shares of Taipei-based System General Corporation.

"We are excited to announce this deal with System General – supplier of analogue power management semiconductors. "We believe System General has one of the top Asia-based power analogue management teams and their growing portfolio of pulse width modulated (PWM) controllers, desktop PC power supply supervisor and combo ICs, and power factor correction (PFC) controllers, coupled with their customer relationships and strong local field applications support has made them a significant competitor in the Taiwan and China AC/DC power conversion market. When combined with Fairchild's global infrastructure, process and package capabilities, worldwide customer access, and manufacturing scale, we will possess a good position in the AC/DC offline power conversion market," said Thompson.

After the completion of the transaction, System General will be a wholly owned Fairchild subsidiary, and Fairchild and System General's management will work together to combine the power conversion businesses of each company and form a single business unit targeting worldwide AC/DC offline power conversion applications.

"Acquiring System General is a natural extension of Fairchild's business strategy to expand our sales and margins by pursuing fast-growing power analogue markets," said Thompson. "Over two thirds of the worldwide power management IC market is in Asia, with six of the top 10 worldwide power supply OEMs located in Taiwan. The AC/DC offline power conversion market, which consists of isolated PWM controllers, PFC controllers, and AC/DC offline regulators measured over $1.5 billion in 2005. Fairchild expects to continue building upon the R&D design centre System General has created in Taiwan to strengthen System General's technical and innovation capabilities. We expect the acquisition of System General to further accelerate the growth of Fairchild's overall AC/DC power conversion business."

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