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STMicroelectronics to Acquire Majority Stake in Gallium Nitride innovator Exagan
PR N°C2946C
Acquisition will accelerate ST’s GaN expertise, roadmap and business for high-frequency,
high-power automotive, industrial and consumer applications
Terms of the transaction were not disclosed and closing of the acquisition remains subject to customary regulatory approvals from French authorities. The signed agreement also provides for the acquisition by ST of the remaining minority stake in Exagan 24 months after the closing of the acquisition of the majority stake. The transaction is funded with available cash.
“ST has built strong momentum in silicon carbide and is now expanding in another very promising compound material, gallium nitride, to drive adoption of the power products based on GaN by customers across the automotive, industrial and consumer markets” said Jean-
Gallium Nitride (GaN) belongs to the family of wide bandgap (WBG) materials which include Silicon Carbide. GaN-based devices represent a major step forward in power electronics providing high-frequency operation, with increased efficiency and higher power density compared to silicon-based transistors, leading to power savings and total system downsizing. GaN products will address a wide variety of applications such as power factor correction and DC/DC converters in servers, telecom and industrial applications, on-board chargers for EV and DC-DC converters for automotive applications, as well personal electronics applications like power adaptors.
Founded in 2014 and headquartered in Grenoble (
Cautionary Information Regarding Forward-Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements, including any statements regarding our future results of operations and financial positions, business strategy, plans and objectives for future operations, involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These statements are only predictions, reflect our current beliefs and expectations with respect to future events, and are based on assumptions, subject to risk and uncertainties, and subject to change at any time. Potential risks and uncertainties include, but are not limited to, such factors as: the possibility that the transaction may not be consummated, including as a result of any of the conditions precedent; the risk that the expected benefits of the acquisition may not be realized; difficulties in retaining Exagan employees following the acquisition; difficulties in expanding facilities and transferring processes and know-how; diversion of our management’s attention from the management of our business; and the impact of competition and other risk factors relating to our industry and business as detailed from time to time in our filings with the
About
ST is a global semiconductor leader delivering intelligent and energy-efficient products and solutions that power the electronics at the heart of everyday life. ST’s products are found everywhere today, and together with our customers, we are enabling smarter driving and smarter factories, cities and homes, along with the next generation of mobile and Internet of Things devices.
By getting more from technology to get more from life, ST stands for life.augmented.
In 2019, the Company’s net revenues were
For further information, please contact:
INVESTOR RELATIONS:
Group VP, Investor Relations
Tel : +41.22.929.58.12
celine.berthier@st.com
MEDIA RELATIONS:
Tel: + 33 6 59 16 79 08
alexis.breton@st.com
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Source: STMicroelectronics N.V.