iWatt

About iWatt

iWatt Inc. operated as a fabless semiconductor company, specializing in the design, development, and manufacturing of digital power management integrated circuits (ICs). Founded in 2000 and headquartered in Silicon Valley, the company carved out a niche by applying digital algorithms to power supply control, a departure from traditional analog solutions. This approach aimed to reduce the number of components, thereby lowering costs and enhancing reliability for electronic device manufacturers.

The company's business model centered on the sale of its proprietary power management ICs to original equipment manufacturers (OEMs). Its product portfolio was concentrated in two primary, high-growth market segments: AC/DC power conversion and LED Solid State Lighting (SSL). For the AC/DC market, iWatt developed solutions for the chargers of portable devices like smartphones and tablets. In the SSL sector, its ICs were integral components for major lighting manufacturers. A key technological asset was the PrimAccurate™ platform, which facilitated the creation of energy-efficient, small, and cost-effective power solutions. The company also licensed some of its technologies as Analog Silicon Intellectual Property (ASIP) modules.

Mark Muegge, who joined the founders in 2000 as the first employee, was a pivotal figure in the company's engineering and product development. He co-invented iWatt's primary side sensing technology and led the engineering team that designed several of its controllers. The company attracted significant venture capital, raising funds from investors such as Sigma Partners, Horizon Ventures, and VantagePoint Capital Partners. A notable achievement was shipping over one billion power management ICs since 2007, indicating substantial market penetration. In the fiscal year 2012, iWatt recorded revenues of $74 million, a 46% increase from the previous year. This growth trajectory culminated in its acquisition by Dialog Semiconductor in July 2013 for approximately $310 million in cash, with potential for an additional $35 million based on revenue performance.