iWatt makes watts behave inside electronic gear. The fabless semiconductor company designs power management chips used in flat panel displays, notebook computers, digital cameras, and other portable devices. Its chips are designed into high-density, low-cost AC/DC and DC/DC power supplies that make more efficient use of electricity, saving on operating costs and helping equipment run cooler. iWatt also makes custom power converter modules for computer servers and workstations. Founded in 2000, iWatt has offices in China, Hong Kong, Japan, South Korea, Taiwan, and the US. Investors include VantagePoint Venture Partners (39% of shares) and Sigma Partners (31%). The company filed for an IPO in 2012.