Navitas Semiconductor Corporation completed the acquisition of remaining minority interest in Silicon Control IC Company from Halo Microelectronics Co., Ltd. for $26.9 million.
February 12, 2023
Share
Navitas Semiconductor Corporation (NasdaqGM:NVTS) entered into an agreement to acquiring remaining minority interest in Silicon Control IC Company from Halo Microelectronics Co., Ltd. for $20 million on January 19, 2023. As Navitas was already the majority shareholder of Silicon Control IC Company. The transaction is expected to close in February. In 2021, Navitas and Halo created a joint venture to develop application-specific silicon controllers that are optimized to work in combination with Navitas GaN ICs to set new standards for efficiency, density, cost and integration for a wide range of applications.
Navitas Semiconductor Corporation (NasdaqGM:NVTS) completed the acquisition of remaining minority interest in Silicon Control IC Company from Halo Microelectronics Co., Ltd. for $26.9 million on February 13, 2023. Navitas issued 5,045,971 shares of common stock in consideration for the acquisition of the remaining minority equity interests in a silicon control IC joint venture.
Halo Microelectronics Co Ltd is a China-based company mainly engaged in semiconductor and integrated circuit design. The Company's main businesses are the research and development, design and sales of analog integrated circuits including power management chips and signal chain chips. The Company's main products include DC/DC chips, super fast charging chips, lithium battery fast charging chips, port protection and signal switching chips. The Company's products are mainly used in mobile phones, notebook computers, wearable devices and other fields.
Navitas Semiconductor Corporation completed the acquisition of remaining minority interest in Silicon Control IC Company from Halo Microelectronics Co., Ltd. for $26.9 million.