IXYS Bids for Westcode Semiconductors

SANTA CLARA, Calif., Jan. 8 -- IXYS Corp., which makes power semiconductors for power conversion and motion control applications, has made an offer to acquire for cash 100 percent of the equity of Westcode Semiconductors Ltd., a UK-based power semiconductor company. The IXYS offer is contingent on the satisfactory completion of due diligence by IXYS, approval of the proposed transaction by the IXYS board of directors and the execution of definitive agreements providing for the transaction.

Westcode has agreed to enter into exclusive negotiations with IXYS, and the parties say they hope to complete the proposed acquisition in January 2002.