Intersil, a maker of analog chips, announced a definitive agreement to acquired Austin-based D2Audio, a maker of digital audio power amplifiers, and member of the Austin Emerging 100. The terms of the deal were not disclosed.

D2Audio was founded in 2002, and had received over $50M in funding over the years from various firms including Austin Ventures, Sevin Rosen, and Lightspeed. Venture funds typically have time horizons of 5-7 years to realize liquidity in their investments and wrap up a fund. While we can’t say that this was a factor in that deal, we are certainly seeing a number of acquisitions of Austin-based venture companies from that era. If key executives are able to realize some solid liquidity from this deal, perhaps it will spur a new round of innovation and entrepreneurship a year or two from now.

Intersil spokesman Rob Purdie was quoted in the Austin American-Statesman as saying, “One of the many elements that made D2Audio so appealing to Intersil was the company’s location. Austin is in the heart of one of the world’s most advanced technology centers. We’re proud to be joining that community of innovation.”

“We are very excited to be part of the Intersil family,” said Brian Wong, D2Audio President and Chief Executive Officer. “We believe that D2Audio’s products will further strengthen Intersil’s leadership position in the consumer electronics market,” Wong said.