8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K

                                 Current Report
                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


                        Date of Report: January 22, 2002
                        (Date of earliest event reported)


                                IXYS CORPORATION
             (Exact name of registrant as specified in its charter)


          Delaware                 000-26124                  77-0140882
(State or other jurisdiction   (Commission File No.)         (IRS Employer
      of incorporation)                                   Identification No.)

                               3540 Bassett Street
                          Santa Clara, California 95110
              (Address of principal executive offices and zip code)


       Registrant's telephone number, including area code: (408) 982-0700

                                 NOT APPLICABLE
         (Former name or former address, if changed since last report.)

                                 --------------



Item 5.  Other Events

     This Current Report on Form 8-K contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Actual results
and developments may differ materially from those described or incorporated by
reference in this Report. For more information about IXYS Corporation and risks
arising when investing in IXYS, investors are directed to IXYS' most recent
Report on Form 10-K as filed with the Securities and Exchange Commission.

     On January 22, 2002, IXYS announced that it had acquired, for approximately
$9,000,000 in cash, 100% of the equity of Westcode Semiconductors Limited, a
UK-based power semiconductor company located in Chippenham, England.

     A copy of the press release of IXYS announcing the acquisition is included
herein as Exhibit 99.1. Such press release is incorporated by reference into
this Item 5.

Item 7.  Financial Statements and Exhibits

(c)      Exhibits

         Exhibit
         Number            Description
- -------------------------  -----------------------------------------------------
         99.1              Press Release, dated January 22, 2002.




                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                         IXYS CORPORATION

                                         By: /s/ Arnold P. Agbayani
                                         --------------------------------------

                                         Arnold P. Agbayani, Senior Vice
                                         President of Finance and Administration
                                         and Chief Financial Officer (Principal
                                         Financial Officer)

Date: January 23, 2002

EX-99.1

                                                                    Exhibit 99.1

                     IXYS Completes Acquisition of Westcode

     SANTA CLARA, Calif. -- (BUSINESS WIRE) -- Jan. 22, 2002 -- IXYS Corporation
(Nasdaq:SYXI) a leader in power semiconductors for power conversion and motion
control applications, announced today that it acquired, for approximately
$9,000,000 in cash, 100% of the equity of Westcode Semiconductors Limited, a
UK-based power semiconductor company located in Chippenham, England. IXYS
expects the transaction to be accretive to earnings per share.

     Westcode, an ISO 9001 qualified company, manufacturers and sells a
portfolio of very high power semiconductors products that will supplement the
existing IXYS product line. Westcode's products are used in a variety of
applications including induction heating, welding, motion controls (AC and DC
drives), traction, electric vehicles and HVDC.

     Westcode will operate as a wholly owned subsidiary of IXYS with Bill Jones
continuing in his present capacity as President of Westcode.

     "We are delighted to welcome Westcode to the IXYS family. With a reputation
for quality and innovation, Westcode's product portfolio is one of the strongest
in the business," stated Nathan Zommer, CEO and President of IXYS. "IXYS has a
corporate commitment to deliver unsurpassed service and world class products to
our customers. This commitment is further strengthened with the addition of
Westcode and its precision manufacturing capability combined with its dedication
to quality."

     "We have been partners with IXYS for several years. This has given us a
unique view of IXYS' superb and innovative technology as well as its emphasis on
customer satisfaction," said Bill Jones, President of Westcode. "We are glad to
be part of the IXYS family. Like IXYS, we put the needs of our customers first.
This combination with IXYS brings to both our customers a strong commitment to
excellence and innovation."

     "With the acquisition of Westcode, IXYS has significantly increased its
product offering and will gain access to a larger customer base. Westcode has
been at the forefront of power semiconductor design. With Westcode, we will push
forward and bring more advanced power solutions to the marketplace," added Peter
Ingram, President of IXYS Europe.

     IXYS develops and markets primarily high performance power semiconductor
devices that are used in controlling and converting electrical power efficiently
in power systems for the telecommunication and internet infrastructure, motor
drives, medical systems and transportation. IXYS also serves its markets with a
combination of digital and analog integrated circuits.

     Statements in this press release regarding IXYS' business that are not
historical facts are "forward-looking statements" that involve risks and
uncertainties, including, but not limited to whether the transaction will be
accretive, the synergies that may be derived from the acquisition of Westcode by
IXYS, the ability of IXYS and Westcode to develop, manufacture, and market new
products, the ability of IXYS to successfully integrate Westcode, and the demand
by end-users for the products produced by the customers of both companies, and
the other risks detailed from time to time in IXYS' reports filed with the
Securities and Exchange Commission. Further information on other factors that
could affect IXYS' operations is detailed and included in IXYS' Form 10-K, as
filed with the Securities and Exchange Commission, which includes the IXYS
Corporation audited financial statements as of March 31, 2001 and 2000. The
Company undertakes no obligation to publicly release the results of any
revisions to these forward-looking statements.

CONTACT:    IXYS Corporation, Santa Clara
            Arnold P. Agbayani, 408/982-0700