The company specialises in epitaxy, product development and application know-how and will, according to ST, help to broaden and accelerate the company’s power GaN roadmap and business for automotive, industrial and consumer applications.
Terms of the transaction were not disclosed but it does provide 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-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.”
