Fairchild will retain its optocoupler and infrared product lines, and says that it intends to grow those businesses through focused R&D. The companies have agreed not to disclose the financial terms of the sale.
For several years, Everlight has been the foundry manufacturer of LED and LED display products sold by Fairchild.
"Everlight has partnered with Fairchild in the LED business for a number of years," said Robert Yeh, CEO of Everlight. "By purchasing these product lines from Fairchild, Everlight is able to expand its core business and will increase its global presence."
As part of the sale agreement, Fairchild will work closely with its customers, channel partners and Everlight to directly support the sale of LED and display products for an appropriate period of time, until the transition is completed.
Both companies expect to substantially complete the transition during Q1, 2006.
"All of us at Everlight are committed to providing impacted customers with the highest level of customer service," continued Mr. Yeh. "As Fairchild's LED foundry partner, our customers can be assured of receiving the same high quality products after the transition is completed as they have come to expect."
Yeh added that Everlight looks forward to building an expanded presence in Asia, Europe and the Americas, and said that his company "will continue to provide high quality products to the existing customers of Fairchild."