April 15, 2010 (FinancialWire) — Techwell, Inc. (NASDAQ: TWLL) said that on March 30, 2010, Intersil Corp. (NASDAQ: ISIL), through its indirect, wholly-owned subsidiary, Navajo Merger Sub, Inc., initiated a cash tender offer to purchase all outstanding shares of common stock and the associated preferred stock purchase rights of Techwell at a price of $18.50 per share, without interest.

The tender offer will expire at midnight, U.S. eastern time, on Monday, April 26, 2010, unless it is extended in accordance with the terms of the applicable merger agreement and the applicable rules and regulations of the Securities and Exchange Commission.

Expiration of the HSR waiting period satisfies one of the conditions of the tender offer. The offer continues to be conditioned upon the other conditions described in the offer to purchase, the related letter of transmittal and other tender offer materials that Intersil filed with the Securities and Exchange Commission on March 30, 2010, as amended.

Techwell is a fabless semiconductor company that designs, markets and sells mixed signal video semiconductor solutions for the security surveillance and automotive infotainment markets. Headquartered in San Jose, CA, Techwell currently has over 200 employees in the U.S., China, Japan, South Korea and Taiwan.

Intersil Corp. is a leader in the design and manufacture of high-performance analog and mixed signal semiconductors.

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