STMicroelectronics acquires majority stake in gallium nitride innovation company Exagan

The acquisition will significantly increase ST's technology accumulation in automotive, industrial and consumer-grade high-frequency and high-power GaN, and expand its development plans and businesses

STMicroelectronics announced that it has signed a merger agreement to acquire a majority stake in French gallium nitride (GaN) innovation company Exagan. Exagan's epitaxial process, product development and application experience will broaden and advance ST's automotive, industrial and consumer power GaN development planning and business. Exagan will continue to implement its existing product development plans, and STMicroelectronics will support its deployment of products.

The terms of the transaction between the two parties have not been announced, and the transaction can be completed after the French government approves according to customary closing regulations. The already signed M & A agreement also stipulates that STMicroelectronics has the right to acquire the remaining minority stake in Exagan 24 months after the majority of the equity acquisition transaction is completed. This transaction will be paid using available cash.

"Silicon Carbide's silicon carbide development is strong, and we are now expanding our investment in another promising composite, gallium nitride, to promote automotive," said Jean-MarcChery, president and CEO of STMicroelectronics. , Industrial, and consumer markets customers use GaN power products. The acquisition of a majority stake in Exagan is another new step for us to strengthen the company's leading position in the global power semiconductor market and our long-term GaN planning, ecosystem, and business. It complements the development project with CEA-Leti in Tours, France and the recently announced cooperation with TSMC. "

Gallium nitride (GaN) belongs to the family of wide band gap (WBG) materials, including silicon carbide. GaN-based devices are a major advancement in the high-frequency power electronic device industry. Their energy efficiency and power density are higher than silicon-based transistors. GaN-based devices save energy and power, and reduce the overall system size. GaN devices are suitable for a variety of applications, such as server, telecommunications and industrial power factor correction and DC / DC converters; on-board chargers and car-regulated DC-DC converters for electric vehicles, and personal electronics applications such as power adapters.

Exagan was founded in 2014 and is headquartered in Grenoble, France. The company is committed to advancing the transition from silicon-based technology to GaN-on-silicon technology in the power electronics industry, developing smaller and more energy-efficient power converters. Exagan's GaN power switches are designed for standard 200 mm wafers.