STMicroelectronics to Acquire Majority Stake in Silicon Carbide Wafer Manufacturer Norstel AB
STMicroelectronics N.V. (STM)
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Source: GlobeNewswire
PR N°C2874C STMicroelectronics to Acquire Majority Stake in Silicon Carbide Wafer Manufacturer Norstel AB Acquisition will extend ST's silicon carbide ecosystem and strengthen ST's flexibility to serve fast growing automotive and industrial applications Geneva, Switzerland, February 6, 2019 - STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, today announced it has signed an agreement to acquire a majority stake in Swedish silicon carbide (SiC) wafer manufacturer Norstel AB ("Norstel"). After closing, ST will control the entire supply chain for a portion of its SiC devices at a time of constrained global capacity and positions itseIf for a significant growth opportunity. ST will acquire 55% of Norstel's share capital, with an option to acquire the remaining 45% subject to certain conditions, which, if exercised, will result in total consideration of $137.5 million, funded with available
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