Littelfuse has completed the acquisition of IXYS Corporation in a deal which values this pioneer in the power semiconductor at $750million.

IXYS focuses on medium- to high-voltage power semiconductors for the industrial, communications, consumer and medical device markets.

“Today marks a significant step forward in our company strategy to accelerate growth within the power control and industrial OEM markets,” explained Dave Heinzmann, President and Chief Executive Officer of Littelfuse. “The combination of our companies brings together a broad power semiconductor portfolio, complementary technology expertise and a strong talent pool.”

At $750million this is the largest acquisition made by Littelfuse to date and follows its purchase of TE Connectivity’s circuit protection business in 2015, which was valued at $350million.

The combined business is expected to create significant revenue synergy opportunities longer term given that the companies’ offerings are complimentary.

IXYS founder Dr. Nathan Zommer has been appointed to the Littelfuse Board of Directors, increasing the size of the board to nine members.