Fairchild Semiconductor International Inc. said Monday that it completed its purchase of Intersil Holding Corp.'s power-chip business, which will boost sales of chips that manage power in electronic devices.
The South Portland, Maine, semiconductor maker said it paid about $338 million in cash for the Irvine company's business.
Fairchild said the purchase gives it 20% of the $3 billion power-chip market and the ability to make almost $1 billion of the chips a year. Fairchild had $1.8 billion in total sales last year.
Intersil stock rose $1.06 to close at $14.94 a share on Nasdaq; Fairchild stock rose 28 cents to $14.28 a share on the New York Stock Exchange.