Renesas Extends Tender Offer for Proposed <span style='color:red'>Acquisition</span> of Sequans
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Renesas Extends Tender Offer for Proposed Acquisition of Sequans

　　Renesas Electronics Corporation (TSE: 6723, “Renesas”) and Sequans Communications S.A. (NYSE: SQNS, “Sequans”) today announced that Renesas has extended the expiration date of its tender offer to acquire all of the outstanding ordinary shares of Sequans for $0.7575 per ordinary share and American Depositary Shares (“ADSs”) of Sequans for $3.03 per ADS (each ADS representing four ordinary shares) in cash, without interest and less any applicable withholding taxes.　　The tender offer, which was previously scheduled to expire at one minute after 11:59 P.M., New York City time, on January 5, 2024, has been extended until one minute after 11:59 P.M., New York City time, on January 22, 2024, unless the tender offer is further extended or earlier terminated. The tender offer was extended to allow additional time for the satisfaction of the remaining closing conditions of the tender offer, including, but not limited to, regulatory approvals (other than the previously announced CFIUS approval, NSIA approval and Taiwan merger control approval) and the valid tender of ordinary shares and ADSs of Sequans representing – together with ordinary shares and ADSs of Sequans beneficially owned by Renesas, if any – at least 90% of the fully diluted ordinary shares of Sequans.　　The Bank of New York Mellon, the Tender Agent for the tender offer, has advised Renesas that as of 6 p.m., New York City time, on January 4, 2024, approximately 116,333,513 ordinary shares of Sequans (including ordinary shares represented by ADSs), representing approximately 41.9% of the fully diluted ordinary shares of Sequans, have been validly tendered and not properly withdrawn pursuant to the tender offer. Holders that have previously tendered their shares do not need to re-tender their shares or take any other action in response to this extension.　　The tender offer is being made pursuant to the Offer to Purchase, dated September 11, 2023 (as it may be amended or supplemented from time to time, the “Offer to Purchase”), the related Ordinary Share Acceptance Form, ADS Letter of Transmittal and certain other offer documents (together with any amendments or supplements thereto), copies of which are attached to the combined Tender Offer Statement and Rule 13e-3 Transaction Statement filed under cover of Schedule TO by Renesas and Renesas Electronics Europe GmbH with the U.S. Securities and Exchange Commission (the “SEC”) on September 11, 2023, as amended.
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Release time：2024-01-15 15:51 reading：1608 Continue reading>>
Expanding production capacity for SiC power devices: ROHM completes acquisition of new production site
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Expanding production capacity for SiC power devices: ROHM completes acquisition of new production site

　　ROHM has completed the acquisition of the assets of Solar Frontier’s former Kunitomi Plant located in Japan, on November 7, 2023, based on its basic agreement signed with Solar Frontier.　　The Plant will be operated by LAPIS Semiconductor, a subsidiary of the ROHM Group, as its Miyazaki Plant No.2. It will become the Group's main production site for SiC power devices and is aiming to start operation during 2024.　　The ROHM Group will continue to strengthen its production capacity in accordance with its Medium-Term Management Plan while keeping abreast of market conditions, and will also thoroughly enhance its BCM system to ensure a stable supply of products to customers.
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Release time：2023-11-08 10:59 reading：2191 Continue reading>>
Infineon announces completion of acquisition of GaN Systems
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Infineon announces completion of acquisition of GaN Systems

　　Infineon Technologies AG recently announced the closing of the acquisition of GaN Systems Inc. (“GaN Systems”). The Ottawa-based company brings with it a broad portfolio of gallium nitride (GaN)-based power conversion solutions and leading-edge application know-how. All required regulatory clearances have been obtained and GaN Systems has become part of Infineon effective as of the closing.　　“GaN technology is paving the way for more energy-efficient and CO 2-saving solutions that support decarbonization,” said Jochen Hanebeck, CEO of Infineon. “The acquisition of GaN Systems significantly accelerates our GaN roadmap and further strengthens Infineon’s leadership in power systems through mastery of all relevant power semiconductor technologies. We welcome our new colleagues from GaN Systems to Infineon.”　　Infineon now has a total of 450 GaN experts and more than 350 GaN patent families, which expands the company’s leading position in power semiconductors and considerably speeds up time-to-market. Both companies’ complementary strengths in IP and application understanding as well as a well-filled customer project pipeline put Infineon in an excellent position to address various fast-growth applications.　　On 2 March 2023, Infineon and GaN Systems announced that the companies had signed a definitive agreement under which Infineon would acquire GaN Systems for US$830 million. The acquisition, an all-cash transaction, was funded from existing liquidity.
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Release time：2023-10-27 10:48 reading：1449 Continue reading>>
BYD’s <span style='color:red'>Acquisition</span> of Jabil’s China Factory: Expanding Beyond iPhone Casings into EMS Orders
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BYD’s Acquisition of Jabil’s China Factory: Expanding Beyond iPhone Casings into EMS Orders

　　Last month, the primary iPhone casing supplier, American company Jabil, announced that it had reached a preliminary agreement with China’s prominent EMS (Electronic Manufacturing Services) firm, BYD, to sell its Mobile Business Unit for $2.2 billion. The completion of the subsequent transaction will depend on due diligence findings and final agreement terms.　　AMEYA360 analysis reveals that as Jabil’s main focus in its Mobile Business Unit is iPhone casing manufacturing, the successful conclusion of this deal would leave iPhone casing supply primarily in the hands of Chinese and Taiwanese manufacturers, potentially bolstering China’s position in the supply chain.　　Furthermore, BYD’s acquisition of Jabil’s China Metal Business not only marks its formal entry into the iPhone supply chain, expanding its presence, but also signals its aspirations to become a supplier in the iPhone assembly business.　　Jabil’s main production facilities for its Mobile Business Unit are located in Wuxi and Chengdu, China. Wuxi primarily handles iPhone aluminum frame manufacturing, while Chengdu focuses on stainless steel components. This year, the iPhone 15 Pro features a titanium alloy frame for the first time, and Jabil is a key supplier for this component.　　In terms of operational performance, Jabil’s Wuxi facility, due to its smaller scale compared to Foxconn and Lens Tech, and lower product prices, has underperformed expectations. Conversely, Chengdu, responsible for high-end metal components, has superior technical capabilities and better performance.　　Considering Jabil Group’s global footprint and the configuration of its key customer supply chains, the company had been seeking a buyer for some time. Initially, Luxshare was a contender in the acquisition, but a consensus on the purchase price was not reached, leading BYD to secure the deal at a higher price.　　AMEYA360 believes that BYD’s acquisition presents an opportunity to replicate Lens Tech’s experience in acquiring the Catcher’s Taizhou factory in 2020, becoming a direct supplier of iPhone casings. Given Jabil’s involvement in both high-end and low-end iPhone casing businesses, BYD might even be in a position to directly compete with Foxconn for high-end orders. This move would make it difficult for Lens Tech, which still lacks a high-end product line and advanced manufacturing processes, to join the ranks of high-end product suppliers.　　In the long term,AMEYA360 believes that BYD, which is already an iPad EMS supplier, aims to leverage its position in critical components to venture into iPhone EMS business in the future, expanding its EMS business footprint.
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Release time：2023-09-15 11:19 reading：2825 Continue reading>>
Renesas on Panthronics <span style='color:red'>Acquisition</span> and Synopsys’ Cloud EDA and Multi-die Focus at SNUG 2023
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Renesas on Panthronics Acquisition and Synopsys’ Cloud EDA and Multi-die Focus at SNUG 2023

　　In this episode of Embedded Edge with Nitin, Sailesh Chittipeddi from Renesas Electronics discusses the Panthronics acquisition and its relevance to the company’s connectivity strategy, as well as insights from Synopsys executives at the SNUG 2023 event on cloud EDA, silicon lifecycle management, multi-die, and AI-driven EDA.　　Welcome to this edition of Embedded Edge with Nitin.  In this episode, I’m going to talk to Sailesh Chittipeddi of Renesas Electronics, and he’ll be talking about the reasons for the acquisition of Panthronics, the developer of NFC technology, which they just acquired, and how this fits in with the company’s acquisition strategy – a lot of which is around opportunities to attach to the embedded processor. And it’s part of the whole connectivity story that they’re pursuing at Renaissance. He also talks about why AI is going to be transforming the industry all the way from the edge to infrastructure, and he talks about its profound impact on everything, including areas like memory bandwidth, power efficiency and digital power.　　Following that interview, I’ll talk to two executives from Synopsys. I attended the Synopsys User Group event in Santa Clara in California, and I managed to speak to various people, including Aart de Geus and Sassine Ghazi. But in this podcast, you’ll also hear from Shankar Krishnamoorthy, he’ll talk about cloud adoption, silicon lifecycle management and multi-die. And if you remember, Synopsys launched their cloud-based EDA as a service product last year. So I asked him a little bit about the adoption there. And then there was a lot of talk around silicon life cycle management at the event and also a big focus on multi-die, especially with a nice keynote from Francois Piednoel of Mercedes-Benz, talking about why they’ve adopted multi-die in their quest to go to Level 4 autonomy in Mercedes-Benz. That was probably one of the the really fascinating keynotes at the at the Synopsys User Group event, or SNUG 2023 as they call it.　　And then I speak to Stelios Diamantidis, and he’s one of two of the engineering team who in 2017 went to management and said, look, we think there’s a serious use for AI in EDA. That’s a really interesting conversation. He tells us how about how and why they thought about doing that and where they’re going next with AI-driven EDA.　　In this episode of Embedded Edge with Nitin, Sailesh Chittipeddi from Renesas Electronics discusses the Panthronics acquisition and its relevance to the company’s connectivity strategy, as well as insights from Synopsys executives at the SNUG 2023 event on cloud EDA, silicon lifecycle management, multi-die, and AI-driven EDA.　　Welcome to this edition of Embedded Edge with Nitin.  In this episode, I’m going to talk to Sailesh Chittipeddi of Renesas Electronics, and he’ll be talking about the reasons for the acquisition of Panthronics, the developer of NFC technology, which they just acquired, and how this fits in with the company’s acquisition strategy – a lot of which is around opportunities to attach to the embedded processor. And it’s part of the whole connectivity story that they’re pursuing at Renaissance. He also talks about why AI is going to be transforming the industry all the way from the edge to infrastructure, and he talks about its profound impact on everything, including areas like memory bandwidth, power efficiency and digital power.　　Following that interview, I’ll talk to two executives from Synopsys. I attended the Synopsys User Group event in Santa Clara in California, and I managed to speak to various people, including Aart de Geus and Sassine Ghazi. But in this podcast, you’ll also hear from Shankar Krishnamoorthy, he’ll talk about cloud adoption, silicon lifecycle management and multi-die. And if you remember, Synopsys launched their cloud-based EDA as a service product last year. So I asked him a little bit about the adoption there. And then there was a lot of talk around silicon life cycle management at the event and also a big focus on multi-die, especially with a nice keynote from Francois Piednoel of Mercedes-Benz, talking about why they’ve adopted multi-die in their quest to go to Level 4 autonomy in Mercedes-Benz. That was probably one of the the really fascinating keynotes at the at the Synopsys User Group event, or SNUG 2023 as they call it.　　And then I speak to Stelios Diamantidis, and he’s one of two of the engineering team who in 2017 went to management and said, look, we think there’s a serious use for AI in EDA. That’s a really interesting conversation. He tells us how about how and why they thought about doing that and where they’re going next with AI-driven EDA.
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Release time：2023-04-24 11:21 reading：3211 Continue reading>>
Ameya360:Infineon’s WBG catch-up with GAN Systems acquisition
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Ameya360:Infineon’s WBG catch-up with GAN Systems acquisition

　　At a dinner held during CES 2023 in January, I had the opportunity to talk to a senior Infineon executive sitting next to me about the company’s widely talked about acquisition ambitions for this year expressed in a statement. The rationale was that while the semiconductor industry is going through a downward cycle, it’s a good window of opportunity to acquire strategic assets at a good price.　　A few days later, when I sat with GAN Systems CEO Jim Witham to get a sense of what’s new and latest in gallium nitride (GaN) semiconductor technology, what I found most striking was his remark about how quickly this market has emerged over the past decade or so. “If you go back five years, people were asking when GaN will happen, and now while GaN devices has established themselves in the market, it’s a little late to join the GaN party,” Witham said. Now it’s really about market penetration, he added.　　At that moment, I instantly began thinking about large power semiconductor players and what they will do to address this market reality. One company that came to mind was Microchip, which acquired Microsemi in 2018 to get hold of silicon carbide (SiC) assets. Very good timing, indeed.　　Another supplier of wide bandgap (WBG) semiconductors, UnitedSiC, was acquired by Qorvo in 2021. But what about other big analog and power semiconductor suppliers? What also came to mind was Infineon’s failed attempt to acquire Cree’s SiC business, Wolfspeed, back in 2017. Cree later named itself on its most successful brand, Wolfspeed, and its SiC business has rapidly grown since then.　　Figure 1 GaN semiconductors facilitate higher power density, higher energy efficiency, and smaller device form factor. Source: Infineon Technologies　　Well, Infineon Technologies has answered the call by snapping GAN Systems for $830 million. Industry watchers believe this could trigger a consolidation wave around the emerging WBG semiconductor industry. Besides Ottawa, Canada-based GAN Systems, other GaN semiconductor specialists include Cambridge GaN Devices, Efficient Power Conversion (EPC), Navitas Semiconductor, Transphorm, and Vanguard International Semiconductor.　　Acquisition merits　　While we’ve seen several SiC-centric acquisitions in recent years, Infineon’s deal marks the first major GaN asset purchase. And, given GaN’s crucial significance in power electronics, it’s very likely that it won’t be the last.　　For Infineon, the number one power semiconductors business in terms of market share, it’s also critical that it fills the GaN missing link in its power semiconductors portfolio. Though not a prolific acquisition player, Infineon has made two highly successful deals in recent years. First, in 2014, it bought power semiconductor pioneer International Rectifier to bolster its automotive offerings. The acquisition also brought Infineon some GaN technology assets as an add-on to this deal.　　Next, in 2019, Infineon acquired Cypress Semiconductor to further boost its portfolio for the automotive markets. Both deals—International Rectifier and Cypress—have gone well for Infineon. So, given Infineon’s track record and prevailing market conditions, the GAN Systems purchase looks like a timely call.　　Figure 2 GaN semiconductors have been incorporated into Canoo’s on-board charger (OBC) to convert AC power from the wall receptacle into the DC power that charges the EV battery. Source: GAN Systems　　Besides strengthening Infineon’s GaN technology roadmap, it provides the German chipmaker timely access to applications such as mobile charging, data center power supplies, residential solar inverters, and on-board chargers (OBCs) for electric vehicles (EVs). As GAN Systems chief Witham points out, the deal will also combine Infineon’s in-house manufacturing with GaN Systems’ foundry corridors. TSMC is GAN Systems’ manufacturing partner.　　Here, it’s important to note that in February 2022, Infineon announced to double down on WBG manufacturing by investing more than €2 billion in a new front-end fab in Kulim, Malaysia. The first wafers will leave the fab in the second half of 2024, complementing Infineon’s existing WBG manufacturing capacities in its fab at Villach, Austria.　　End of another chip startup story　　It’s the end of the road for the Canadian startup founded in Ottawa in 2006. Girvan Patterson and John Roberts co-founded GaN Systems after seeing GaN as an opportunity and growth venue in the power industry, especially in data centers, industrial motors, and mobile chargers. Ottawa, the Canadian capital, had a research facility, National Research Council (NRC), which gave the upstart a small GaN fab to acquire fast learning cycles. “That’s why we could develop working GaN transistors fast enough,” Witham told EDN at CES 2023.　　Figure 3 GaN Systems, based in Ottawa, has more than 200 employees.　　GaN Systems has been a success story in the rapidly emerging WBG semiconductors arena. GaN semiconductors are now being targeted at a wide range of power applications due to their smaller form factor and energy-saving credentials enabled by higher power density and energy efficiency. According to market research firm Yole, the GaN revenue for power applications is expected to grow by 56% CAGR to approximately $2 billion by 2027.　　GaN Systems claims it’s the only GaN semiconductors company with a production program for automotive. At CES 2023, it displayed an OBC from Canoo and a DC-DC converter from Vitesco for EVs. The adoption of GaN devices in EVs is at a tipping point, as Infineon CEO Jochen Hanebeck acknowledged in the press release announcing this acquisition.
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Release time：2023-03-07 13:21 reading：753 Continue reading>>
Value of Semiconductor Mergers and <span style='color:red'>Acquisition</span>s Falls Considerably
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Value of Semiconductor Mergers and Acquisitions Falls Considerably

　　2018 semiconductor M&A valued at $23.2 billion, down from the record $107.3 billion in 2015.　　IC Insights is in the process of completing its forecast and analysis of the IC industry and will present its new findings in The McClean Report 2019, which will be published later this month.  Among the semiconductor industry data included in the new 400+ page report is an analysis of semiconductor merger and acquisition agreements.　　The historic flood of merger and acquisition agreements that swept through the semiconductor industry in 2015 and 2016 slowed significantly in 2017 and then eased back further in 2018, but the total value of M&A deals reached in the last year was still nearly more than twice the annual average during the first half of this decade.  Acquisition agreements reached in 2018 for semiconductor companies, business units, product lines, and related assets had a combined value of $23.2 billion compared to $28.1 billion in 2017, based on data compiled by IC Insights.  The values of M&A deals struck in these years were significantly less than the record-high $107.3 billion set in 2015 (Figure 1).　　Figure 1　　The original 2016 M&A total of $100.4 billion was lowered by $41.1 billion to $59.3 billion because several major acquisition agreements were not completed, including the largest proposed deal ever in semiconductor history—Qualcomm’s planned purchase of NXP Semiconductor for $39 billion, which was raised to $44 billion before being canceled in July 2018.  Prior to the explosion of semiconductor acquisitions that erupted four years ago, M&A agreements in the chip industry had a total annual average value of $12.6 billion in the 2010-2014 timeperiod.　　The two largest acquisition agreements in 2018 accounted for about 65% of the M&A total in the year.  In March 2018, fabless mixed-signal IC and power discrete semiconductor supplier Microsemi agreed to be acquired by Microchip Technology for $8.35 billion in cash.  Microchip said the purchase of Microsemi would boost its position in computing, communications, and wireless systems applications.  The transaction was completed in May 2018. Fabless mixed-signal IC supplier Integrated Device Technology (IDT) agreed in September 2018 to be purchased by Renesas Electronics for $6.7 billion in cash.  Renesas believes the IDT acquisition will strengthen its position in automotive ICs for advanced driver-assistance systems and autonomous vehicles.  The IDT purchase is expected to be completed by June 2019.　　Just two other semiconductor acquisition announcements in 2018 had values of more than $1 billion.  In October 2018, memory maker Micron Technology said it would exercise an option to acquire full ownership of its IM Flash Technology joint venture from Intel for about $1.5 billion in cash. Micron has started the process of buying Intel’s non-controlling interest in the non-volatile memory manufacturing and development joint venture, located in Lehi, Utah. The transaction is expected to be completed in 2H19.  In September 2018, China’s largest contract manufacturer of smartphones, Wingtech Technology, began acquiring shares of Nexperia, a Dutch-based supplier of standard logic and discrete semiconductors that was spun out of NXP in 2017 with the financial backing of Chinese investors.   Wingtech launched two rounds of share purchases from the Chinese owners of Nexperia with a combined value of nearly $3.8 billion.  The company hopes to take majority ownership of Nexperia (about 76% of the shares) in 2019.
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Release time：2019-01-18 00:00 reading：1156 Continue reading>>
Cabot Microelectronics Corporation completes acquisition of KMG Chemicals
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Cabot Microelectronics Corporation completes acquisition of KMG Chemicals

Cabot Microelectronics Corporation (Nasdaq: CCMP), today announced that it has completed its previously announced acquisition of KMG Chemicals, Inc.  As a result of the acquisition, KMG has become a wholly owned subsidiary of Cabot Microelectronics.  Under the terms of the definitive agreement, each share of KMG common stock was converted into the right to receive $55.65 in cash and 0.2000 of a share of Cabot Microelectronics common stock, without interest and with cash paid in lieu of any fractional shares.The acquisition will extend and strengthen Cabot Microelectronics’ position as one of the leading suppliers of consumable materials to the semiconductor industry.  Additionally, the combined company will be a leading global provider of performance products and services for improving pipeline operations and optimizing throughput.  The transaction is expected to be significantly accretive to Cabot Microelectronics’ free cash flow and adjusted earnings per share in year one, excluding any acquisition-related costs.“I am pleased to announce that we have completed the KMG transaction.  We welcome KMG’s employees to our team and look forward to our journey together towards becoming the premier global provider of semiconductor and specialty materials.  We believe that our employees, customers and shareholders will benefit from this transaction as we become a stronger company, focused on providing high-performing and innovative solutions to our customers,” said David Li, President and CEO of Cabot Microelectronics.  “KMG’s industry-leading electronic materials business will expand our CMP product offerings with high-purity solutions used throughout the semiconductor manufacturing process.  We are also excited about the addition of KMG’s performance materials businesses to our portfolio which will allow us to expand our participation into new markets including the attractive, high-growth pipeline performance segment.”In connection with the acquisition, Cabot Microelectronics borrowed $1.065 billion under a new senior secured term loan facility, the proceeds of which were used to finance in part the cash portion of the merger consideration, to repay KMG’s existing indebtedness and to pay fees and expenses related to the acquisition.  Cabot Microelectronics issued approximately 3.2 million shares of common stock to holders of KMG common stock for the stock portion of the merger consideration.
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Release time：2018-11-16 00:00 reading：1081 Continue reading>>
Size of semiconductor acquisitions may have hit limit
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Size of semiconductor acquisitions may have hit limit

The demise of Qualcomm’s pending $44 billion purchase of NXP Semiconductors in late July along with growing regulatory reviews of chip merger agreements, efforts by countries to protect domestic technology, and the escalation of global trade friction all suggest semiconductor acquisitions are hitting a ceiling in the size of doable deals.  It is becoming less likely that semiconductor acquisitions over $40 billion can be completed or even attempted in the current geopolitical environment and brewing battles over global trade.IC Insights believes a combination of factors—including the growing high dollar value of major chip merger agreements, complexities in combining large businesses together, and greater scrutiny of governments protecting their domestic base of suppliers—will stifle ever-larger mega-transactions in the semiconductor industry in the foreseeable future.  Figure 1 ranks the 10 largest semiconductor merger and acquisition announcements and underscores the growth in size of these M&A transactions.  Eight of the 10 largest announcements occurred in the last three years with only the biggest deal (Qualcomm buying NXP) failing to be completed.It is important to note that IC Insights’ M&A list only covers semiconductor suppliers, chipmakers, and providers of integrated circuit intellectual property (IP) and excludes acquisitions of software and system-level businesses by IC companies  (such as Intel’s $15.3 billion purchase of Mobileye, an Israeli-based developer of digital imaging technology for autonomous vehicles, in August 2017).  This M&A list also excludes transactions involving semiconductor capital equipment suppliers, material producers, chip packaging and testing companies, and design automation software firms.Qualcomm’s $44 billion cash purchase of NXP would have been the largest semiconductor acquisition ever if it was completed, but the deal—originally announced in October 2016 at nearly $39 billion and raised to $44 billion in February 2018—was canceled in the last week of July because China had not cleared the transaction.  China was the last country needed for an approval of the merger, and it was believed to be close to clearing the purchase in 2Q18, but growing threats of tariffs in a brewing trade war with the U.S. and moves to block Chinese acquisitions of American IC companies caused China to taken no action on the $44 billion acquisition in time for a deadline set by Qualcomm and NXP.  U.S.-based Qualcomm canceled the acquisition on July 26 and quickly paid NXP in the Netherlands a $2 billion breakup fee so the two companies could move on separately.Prior to Qualcomm’s failed $44 billion offer for NXP, the largest semiconductor acquisition was Avago Technologies’ $37 billion cash and stock purchase of Broadcom in early 2016.  Avago renamed itself Broadcom Limited after the purchase and launched a failed $121 billion hostile takeover bid for Qualcomm at the end of 2017.  It lowered the unsolicited bid to $117 billion in February 2018 after Qualcomm raised its offer for NXP to $44 billion.  In March 2018, U.S. President Donald Trump blocked Broadcom’s $117 billion takeover bid for Qualcomm after concerns were raised in the U.S. government about the potential loss of cellular technology leadership to Chinese companies, if the hostile acquisition was completed. After the presidential order, Broadcom executives said the company was considering other acquisition targets, with cash, that would be smaller and more focused.The global semiconductor industry has been reshaped by a historic wave of mergers and acquisitions during the past three years, with about 100 M&A agreements being reached between 2015 and the middle of 2018 with the combined value of these transactions being more than $245 billion, based on data collected by IC Insights and contained within its Strategic Reviews database subscription service and in The 2018 McClean Report on the IC Industry.  A record-high $107.3 billion in semiconductor acquisition agreements were announced in 2015.  The second highest total for semiconductor M&A agreements was then reached in 2016 at $99.8 billion.  Semiconductor acquisition announcements reached a total value of $28.3 billion in 2017, which was twice the industry’s annual average of about $12.6 billion in the first half of this decade but significantly less than 2015 and 2016, when M&A was sweeping through the chip industry at historic levels.  In the first six months of 2018, semiconductor acquisition announcements had a total value of about $9.6 billion, based on IC Insights’ running tally of announced M&A deals.
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Release time：2018-08-15 00:00 reading：1312 Continue reading>>
UMC Board Approves 100% <span style='color:red'>Acquisition</span> of MIFS Fab from Fujitsu
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UMC Board Approves 100% Acquisition of MIFS Fab from Fujitsu

United Microelectronics Corporation announced that its Board of Directors has approved for the company to fully acquire Mie Fujitsu Semiconductor Limited (MIFS), a 12-inch wafer foundry based in Mie, Japan, from Fujitsu Semiconductor Limited (Fujitsu Semiconductor). Based on the net value of MIFS on March 31, 2018, the purchase value will be no more than ¥ JPN 57.63 billion. UMC currently owns 15.9% of MIFS shares. Under the terms of the agreement, Fujitsu Semiconductor will transfer the remaining 84.1% of its shares in MIFS to UMC, making MIFS a wholly-owned subsidiary.UMC’s Board of Directors also approved plans for the company to apply with the China Securities Regulatory Commission for UMC’s mainland operations to be listed on the Shanghai Stock Exchange as an A-list offering. HeJian Technology (Suzhou) Co. will represent UMC’s China businesses, which include HeJian’s 8” fab, United Semi and its 12” fab in Xiamen and Shandong-based UDS, which provides IC design support services.Jason Wang, co-president of UMC said, “UMC is experiencing high demand from mature 12" processes. With new applications in 5G, IoT, automotive and AI requiring these technologies, we anticipate the market conditions driving this demand to remain strong. With existing 300mm fabs in Taiwan, China and Singapore, Japan-based MIFS will help customers further diversify their manufacturing risk with a robust production base to ensure business continuity while enhancing UMC’s worldwide service quality. We are excited that the strong partnership between UMC and Fujitsu Semiconductor will enable us to achieve further growth and provide customers with higher value through the acquisition of MIFS.”Co-president Wang continued, “An A-share listing on the Shanghai Stock Exchange for our HeJian-led China subsidiaries provides an ideal path for UMC to quickly capitalize on the rapid growth of China’s semiconductor market and facilitate long-term development. The raised capital would be allocated towards reinvestment in UMC’s successful China operations in order to provide customers with a complete, integrated IC manufacturing solution from chip design to manufacturing, which will help expand our market share and further increase production scale, technical quality, and overall competitiveness.”Listing of A-shares to provide a more diversified source of local funds improves the company’s financial structure and strengthens the company's asset and capital positions, while allowing more capital to remain in Taiwan. As part of the listing, UMC can also attract and retain top local talent through implementation of an Employee Stock Ownership Program (ESOP).The revenue of HeJian constitutes about 11% of UMC’s consolidated revenue, while the number of new shares planned for issue will also be around 11% of the total shares outstanding. UMC will remain the majority shareholder possessing approximately 87% of HeJian’s equity, with no meaningful dilution to the rights and interests of the parent company.Co-president Wang added, “UMC has always been committed to expanding its operating scale, strengthening customer competitiveness and enhancing shareholder value through globally diversified manufacturing. The Board of Directors’ approval to fully acquire MIFS from Fujitsu and publicly listing our China operations on the local stock exchange will help drive UMC’s long-term development and achieve global synergies that will strengthen the company's manufacturing competitiveness, while maintaining our established base in Taiwan.”
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Release time：2018-07-03 00:00 reading：2438 Continue reading>>

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