Dialog Semiconductor Plc has entered into an agreement to acquire iWatt Inc. for a cash payment of approximately $310 million, with additional contingent consideration of up to $35 million. Dialog is strengthening its market position in power supply IC market by adding two high growth product families; AC/DC charger adaptor ICs and a broad range of LED Solid State Lighting ICs from iWatt. Dialog claims this acquisition helps the company in expanding its addressable market into the adjacent digital power management space, unlocking new growth opportunities and increasing TAM by a potential $1.8 billion to $5.9 billion by 2015. iWatt with 110 patents is growing its revenues by 46% in 2012. Dialog shares a nugget of market information of power ICs from Gartner where it says the overall global power management semiconductor market is expected to grow to $11.5 billion by 2015. Dialog’s CEO Jalal Bagherli commented, "This acquisition underscores Dialog's strategy to diversify our markets and growth opportunities through select strategic acquisitions. We see the acquisition as highly complementary to our existing PMIC business enabling Dialog to address adjacent emerging power management segments, including cutting-edge AC/DC solutions for next generation fast portable chargers as well as ICs for LED solid state lighting.” “iWatt has been shipping products to numerous top-tier customers and is expected to increase our future business opportunities with market leading customers such as Samsung, HTC and Nokia in the portable segment, and GE, Osram and Philips in the fast growing solid state lighting market." concluded Bagherli. Ron Edgerton, iWatt’s CEO and President and Chairman, commented, “The iWatt team is excited to join forces with Dialog. Our digital power management technology has allowed iWatt to become a leader in both AC/DC power conversion and the emerging high growth LED solid state lighting market.