The Tool Desk
Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Intersil’s March 2002 agreement to acquire Elantec was valued at approximately $1.4 billion based on Intersil’s share price at the time of the announcement. Elantec shareholders were offered a mix of Intersil stock and cash—not $1.4 billion in cash. The merger closed on May 14, 2002.
How much did Intersil pay for Elantec?
The companies announced the agreement on March 10, 2002. For each outstanding Elantec common share, shareholders were to receive 1.24 shares of Intersil Class A common stock plus $8 in cash, without interest. The announcement valued the transaction at about $1.4 billion in equity, using Intersil’s March 8 closing share price of $36.65. It also described the offer as a 15% premium to the 30-day average exchange ratio. The joint announcement filed with the SEC provides the offer terms and valuation basis.
That headline value was an estimate tied to Intersil’s stock price on a specific date. It was not the amount of cash paid, nor a fixed cash purchase price: most of the per-share consideration was Intersil stock, whose market value could change.
When was the acquisition completed?
The March 10 announcement marked the agreement, not the completion of the merger. The transaction was subject to shareholder votes and other conditions, including antitrust approvals, described in the SEC-filed proxy materials. Intersil later reported that it acquired all of Elantec’s outstanding common stock on May 14, 2002, after shareholder approvals, and accounted for the acquisition using the purchase method. Intersil’s 2004 Form 10-K, filed in 2005, records the closing date and accounting treatment.
#1 Best Overall
- COMPATIBILITY: Development board supporting multiple wireless protocols including Bluetooth
- Thread, Matter, Zigbee, ANT, and NFC at 2.4GHz frequency
- PROCESSOR: Features the advanced nRF54L15 transceiver chip from Nordic Semiconductor for reliable wireless communications
- WIRELESS STANDARDS: Implements IEEE 802.15.4 protocol support for Matter, Thread, and Zigbee networking applications
- DEVELOPMENT PLATFORM: Comprehensive evaluation board designed for testing and prototyping wireless connectivity solutions
| Date or stage | What happened |
|---|---|
| March 8, 2002 | Intersil’s $36.65 closing share price was used to calculate the announced implied equity value. |
| March 10, 2002 | Intersil and Elantec announced the definitive merger agreement and stock-and-cash terms. |
| May 14, 2002 | The acquisition closed after shareholder approvals. |
Why did Intersil want Elantec?
Intersil and Elantec presented the deal as a way to broaden Intersil’s analog semiconductor business. The announcement said Elantec brought high-performance analog integrated circuits used in optical storage—including CD read/write and DVD recordable applications—and flat-panel displays. Intersil said those products complemented its wireless and analog portfolio, that the companies shared significant customer overlap, and that the combination would expand its presence in additional analog markets while strengthening wireless networking.
The companies’ SEC-filed announcement called the firms leaders in fast-growing semiconductor markets; that was their promotional characterization of the deal, not an independent finding about its eventual results. The proxy materials similarly described the combination as supporting Intersil’s strategy in high-margin, high-performance analog and wireless markets. Those statements explain the rationale offered to shareholders; they do not by themselves establish that the acquisition later produced particular synergies or financial gains.
Quick Recap
Best Value
- Manufacturer: Cypress Semiconductor Corp
- MCU:ARM Cortex-M3
- Evaluation Board with CHIP CY8C58LP
- Strong stability and reliable use
Rank #4
- EVALUATION BOARD: NRF9151-DK development board from Nordic Semiconductor designed for cellular IoT and GNSS applications
- CONNECTIVITY: Features both cellular connectivity and GNSS (Global Navigation Satellite System) capabilities for location-based applications
- DEVELOPMENT PLATFORM: Ideal for prototyping and testing IoT devices, supporting cellular network communications
- COMPATIBILITY: Designed to work with Nordic Semiconductor's development tools and software development kit
- APPLICATIONS: Perfect for creating IoT solutions, asset tracking systems, and location-aware connected devices
Rank #3
- POWER MONITORING: Professional-grade current monitoring and power management evaluation board for precise power consumption analysis
- COMPATIBILITY: Designed specifically for Nordic Semiconductor development and testing applications
- MEASUREMENT CAPABILITIES: Enables real-time current measurement and power profiling for embedded system development
- DATA ANALYSIS: Features comprehensive power consumption data collection and visualization capabilities
- DEVELOPMENT TOOL: Essential evaluation board for optimizing power efficiency in embedded system projects and prototypes
What the $1.4 billion figure does—and does not—tell you
- It is an announcement-date implied equity valuation. The calculation used Intersil’s March 8, 2002 closing price, not a price that remains applicable today.
- It is not the cash portion alone. The announced consideration combined 1.24 Intersil shares with $8 cash for each Elantec share.
- It is distinct from the closing date. The agreement was announced in March; the acquisition was completed in May 2002.
- It does not prove later performance. The cited company materials explain why the boards supported the transaction, but do not establish realized synergies or business outcomes.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
