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Automotive Product Finder Magazine | STM to acquire majority stake in Gallium Nitride innovator Exagan
STM to acquire majority stake in Gallium Nitride innovator Exagan
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STMicroelectronics, a global semiconductor leader across the spectrum of electronics applications, has announced that it has signed an agreement to acquire a majority stake in French Gallium Nitride (GaN) innovator Exagan. Exagan’s expertise in epitaxy, product development and application know-how will broaden and accelerate company’s power GaN roadmap and business for automotive, industrial and consumer applications. Exagan will continue to execute its product roadmap and will be supported by ST in the deployment of its products.
The signed agreement also provides for the acquisition by STMicroelectronics’s 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-Marc Chery, President and CEO of STMicroelectronics.
“The acquisition of a majority stake in Exagan is another step forward in strengthening our global technology leadership in power semiconductors and our long-term GaN roadmap, ecosystem and business. It comes in addition to ongoing developments with CEA-Leti in Tours, France, and the recently-announced collaboration with TSMC,” added Chery.
Gallium Nitride Innovator Exagan
French Gallium Nitride
Jean Marc Chery
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