Overview
- ADI and Empower announced a definitive agreement Tuesday for an all-cash $1.5 billion acquisition approved by both boards.
- Empower’s silicon capacitors are already shipping, and its integrated voltage regulators place power conversion beside AI chips to cut energy loss and reduce large capacitor banks on circuit boards.
- Empower CEO Tim Phillips will remain to lead IVR efforts after closing, which the companies aim for in the second half of 2026 pending the U.S. Hart-Scott-Rodino antitrust waiting period and other conditions.
- Following Tuesday’s deal news, ADI reported Wednesday record Q2 revenue of $3.62 billion with adjusted EPS of $3.09 and guided Q3 revenue to about $3.9 billion.
- The combined portfolio is pitched at hyperscalers seeking denser server racks, with designs moving toward 800-volt architectures that require higher-efficiency, point-of-load power delivery.