Intersil to acquire fabless chipmaker Planet ATE

Sept 10 (Reuters) - Intersil Corp (ISIL.O: Quote, Profile, Research, Stock Buzz) said it agreed to acquire privately held fabless semiconductor supplier Planet ATE Inc for about $46 million in cash to expand its offerings to the automated test equipment market.

Additionally, the company might also pay up to $12 million in cash to the former holders of Planet ATE capital upon satisfaction of certain performance goals in 2008, the analog semiconductors maker said in a statement.

In connection with the deal, expected to close during the third quarter, the company may record a one-time charge for purchased in-process research and development expenses. (Reporting by Anup Roy in Bangalore)