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International Rectifier (IR) announced on April 15, 2002, that it would buy TechnoFusion GmbH, Royal Philips Electronics’ automotive power-generation systems business, for $50 million in cash. That was the announced price—not the only amount later reported: Philips said the sale closed for EUR 60 million cash, while IR later reported approximately $55 million in total consideration for TechnoFusion and related U.S. assets.
How much did International Rectifier pay?
The answer depends on which transaction report and stage you mean. The $50 million figure came from IR’s announcement, the EUR 60 million figure from Philips’ completion reporting, and IR’s approximately $55 million figure covered TechnoFusion and related U.S. assets in its fiscal 2003 filing. They should not be treated as interchangeable prices.
| Report and stage | Amount | What it describes |
|---|---|---|
| IR announcement, indexed by EE Times, April 15, 2002 | $50 million cash | Announced acquisition of TechnoFusion from Royal Philips Electronics. EE Times archive listing. |
| Philips sale-completion reporting, May 2002 | EUR 60 million cash | Philips’ reported completed sale. Philips annual-report materials. |
| IR fiscal 2003 Form 10-K | Approximately $55 million total consideration | TechnoFusion and related U.S. assets; IR said the acquisition was completed in its fiscal fourth quarter of 2002. IR Form 10-K. |
The original EE Times article body is not available in the archive listing, so its announcement figure is supported by the listing’s date and summary. Philips’ and IR’s later reports provide the separate closing and accounting contexts.
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What was TechnoFusion?
TechnoFusion GmbH made power-generation systems for automotive electronics. Philips’ reporting also describes integrated regulator micro-electronic modules—components used in automotive electrical systems to regulate power.
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Philips reported that TechnoFusion had approximately USD 50 million in sales in 2001 and approximately 375 employees. Those are Philips’ historical company-reported figures, not current operating data.
When was the acquisition announced and completed?
- April 15, 2002: EE Times’ archived listing dates IR’s announcement of a $50 million cash acquisition from Royal Philips Electronics. EE Times archive listing.
- May 2002: Philips reported that the sale had been completed for EUR 60 million cash. Philips annual-report materials.
- May 29, 2002: A contemporaneous archive carried IR’s completion announcement, describing the acquisition of TechnoFusion’s operations and assets from Philips. Contemporaneous completion announcement.
- IR fiscal 2003 filing: The company said it completed the acquisition in fiscal fourth-quarter 2002 and reported approximately $55 million in total consideration for TechnoFusion and related U.S. assets. IR Form 10-K.
What did TechnoFusion contribute after the sale?
In its fiscal 2004 filing, IR attributed $41.7 million of automotive revenue to TechnoFusion for the twelve months ended June 30, 2003, and $7.5 million for the twelve months ended June 30, 2002. These are buyer-reported retrospective revenue contributions, not the acquisition price or standalone audited results for TechnoFusion. IR also described automotive power-system manufacturing and assembly facilities in Swansea, Wales, and Krefeld, Germany. IR fiscal 2004 Form 10-K.
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