SOUTH PORTLAND, Me., April 13 -- Fairchild Semiconductor has agreed to acquire QT Optoelectronics Inc. (QTO) for approximately $100 million, with payment to be comprised mainly of Fairchild stock. Based in Sunnyvale, Calif., QTO designs, manufactures and markets LED lamps and displays, infrared components, custom optoelectronics and optocouplers.
Kirk Pond, Fairchild's president, chairman and CEO, said, Adding this product line is critical to our high performance building block strategy and offers tremendous growth potential, providing new customers and expanding our offerings to existing customers. QTO will strengthen our communications and computer markets, while opening up new automotive and consumer customers. This purchase demonstrates our commitment to grow through acquisition, as well as [through] new product development.