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The interleaved converter topology has attractive features that include high output current, small output-current ripple, and fast transient response. In this paper, an interleaved four-phase forward converter using an integrated transformer is proposed for telecommunication and computer applications. The proposed converter requires only one integrated transformer instead of four step-down transformers. The z-parameter (gyrator) model and the equivalent-circuit model of the integrated transformer are derived. The circuit operation and design criteria are described. Theoretical analyses are verified by simulated and experimental results.