Littelfuse Acquires Elmos Foundry for EUR 93 Million
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Update time : 2023-07-15 10:54:59
Automotive mixed-signal semiconductor maker Elmos Semiconductor SE has signed a binding contract with U.S.-based Littelfuse, Inc. agreeing to sell its 200-millimeter (mm) wafer fab in Dortmund, Germany, for a net purchase price of approximately EUR93 million, EETimes Japan reported. Under the agreement, Littelfuse will acquire the fab and its technical team of approximately 225 employees, and all other activities, including test operations, will continue to be handled by Elmos.
Headquartered in Illinois, Elmos develops, manufactures and markets automotive motor drivers, LED drivers and ultrasonic range sensors. The facility for which the sale agreement was signed is a legacy semiconductor fab that produces automotive semiconductors on the 350nm process. Back in December 2021, Elmos, which aspires to become a fabless company (Fabless), had signed a sale and purchase agreement with Swedish MEMS foundry Silex Microsystems AB to transfer the plant for €85 million. However, in November 2022, the sale was blocked by the German Federal Cabinet on the grounds that it was "recognized as a threat to order and security in Germany". It's worth noting that Silex is a subsidiary of China Semiconductor. With the acquisition of the Dortmund fab, Littelfuse strengthens its capacity in power semiconductors to accommodate the high growth in the market for power conversion applications such as renewable energy, energy storage and electric vehicle charging infrastructure. "This agreement is a milestone for the semiconductor manufacturing industry in Dortmund and will strengthen Germany's position as a high-tech nation. As a Fabless company, Elmos will make greater use of advanced technologies to enable groundbreaking innovations in the field of mixed-signal semiconductors.Elmos is already the global market leader in the automotive industry for certain applications. We look forward to utilizing this strong position to shape our future growth." Dr. Arne Schneider, CEO of Elmos Semiconductor, said in the press release. Chad Marak, senior vice president and general manager of Littelfuse's semiconductor business, said, "This fab acquisition is a key component of our long-term growth strategy in power semiconductors. It will add an experienced team and an efficient, high-quality wafer processing operation." Littelfuse currently operates in more than 20 countries and employs approximately 18,000 people worldwide. In Germany, Littelfuse operates several manufacturing, sales and R&D sites. Closing of the transaction is expected to occur on December 31, 2024 and is subject to certain closing conditions and regulatory approvals, including foreign trade investment controls by the German Federal Ministry of Economic Affairs and Climate Protection (BMWK).Elmos will retain full operational control of the fab until the transaction closes. In addition, Elmos and Littelfuse have agreed to a definitive long-term supply agreement for an initial period through 2029, after which Elmos will acquire a certain number of wafers produced at the fab on a purchase basis. This long-term agreement complements Elmos' existing supply agreements with other foundry partners to ensure that Elmos has the necessary capacity to meet the needs of its existing customers.
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