Onsemi set to buy SiC material developer for $415 million
Founded in 1994, GTAT has significant experience in crystalline growth, including SiC. SiC is a key material for next-generation semiconductors that provide technical benefits in SiC power switching devices, significantly improving system efficiency in electric vehicles, EV charging and energy infrastructure.
The move provides a degree of vertical integration and provides Onsemi with an assured supply of SiC to meet the demand for SiC-based power semiconductors.
Onsemi said it plans to invest in expanding GTAT’s R&D efforts to advance 150mm and 200mm SiC crystal growth technology, while also investing in the broader SiC supply chain, including fab capacity and packaging.
The move is in line with the strategy recently outlined by CEO Hassane El-Khoury (see CEO interview: Hassane El-Khoury on the ‘greening’ of Onsemi).
“We are focused on deepening our leadership and innovation in game-changing technologies that support the automotive and industrial sectors, and GTAT brings outstanding technical capabilities and expertise in developing wafering-ready silicon carbide, which we intend to accelerate and expand to better empower customers in our high-growth end markets,” said El-Khoury, in a statement.
The deal has been approved by the boards of directors of both companies and is expected to close in 1H22. Completion of the transaction is subject to regulatory approvals and other customary closing conditions.
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