Fairchild sells its LED distribution

Fairchild will retain its optocoupler and infrared product lines, intending to grow those businesses through focused research and development. As part of the sale agreement, Fairchild will assist Everlight with transitioning the product line by continuing to directly support the sale of LED and LED display products to its customers for an appropriate period of time. “It's our intent to make the sale of this product line seamless to our LED and LED display customers,” said Tom Beaver, executive vice president of Worldwide Sales and Marketing for Fairchild. “To that end, our sales force will work closely with our customers, channel partners and Everlight to handle orders and customer service requests until the product line can be transitioned and Everlight is ready to take over the day-to-day operation of these product sales, which we anticipate will be substantially completed in Q1, 2006. As the foundry manufacturer of LED products for Fairchild, our customers can look forward to a consistency of supply and services after the transition is completed.” The companies have agreed not to disclose the financial terms of the sale. “By divesting these LED and display products, Fairchild is continuing to sharpen its focus on its core businesses,” said Dr. Mark Thompson, president and CEO of Fairchild. “We will continue to concentrate our internal investments towards developing our higher value analog and system power optimization products. We are retaining the optocoupler and infrared product lines as these products are closer to and complement our core strategy as The Power Franchise®. “Everlight and Fairchild have long partnered in the LED business so this transition is a winning situation for our customers, our company and Everlight,” continued Thompson. “Everlight is a committed LED company, both as a foundry partner and trade supplier, and this sale will support and expand their business in Asia, Europe and the Americas.”