Powervation, a Cork-based designer and producer of ultra energy-saving computer chips, announced yesterday that the company has been acquired by Japanese electronic parts manufacturer ROHM for about $70M (€64M) in an all-cash deal. Powervation will become a fully owned susidiary of ROHM, with its principal design centre in Cork.

A join statement from the two companies said: "By acquiring Powervation, ROHM will gain leading-edge digital power technologies to strengthen its product offerings in the rapidly-growing cloud, data-center, and communications infrastructure markets. This acquisition will also enable ROHM to develop advanced digital power solutions for a broader range of markets and applications with Powervation's flexible controller platform."