Vishay and International Rectifier have entered into a settlement agreement to resolve certain disputes related to Vishay’s acquisition in 2007 of International Rectifier’s Power Control Systems business. Under the settlement, International Rectifier has refunded $30.0 million of the purchase price associated with the acquisition, and Vishay has released International Rectifier from claims relating to certain outstanding disputes regarding the acquisition.

In addition, Vishay and International Rectifier clarified and revised the covenant-not-to-compete associated with the acquisition to permit International Rectifier to, under certain conditions, develop, design, manufacture and sell certain additional products that incorporate technologies sold or licensed to Vishay in the acquisition. As part of the settlement, Vishay will continue as a supplier of certain products to International Rectifier and will receive a license to certain additional technology developed in the future by International Rectifier.