International Rectifier Sells Power Control Systems For $290M

El Segundo-based Interntaional Rectifier said today it has agreed to sell its Power Control Systems business to Vishay Intertechnology, for approximately $290M in cash. IR said that the power business accounted for approximately $300M of the firm's revenue for fiscal year 2006. Product lines included in the transaction include discrete planar MOSFETS, diodes, and rectifiers. The firm said it expects the transaction to close in February of next year.