STMicroelectronics to acquire a majority stake in Exagan.

STMicroelectronics, a global semiconductor provider serving customers across the spectrum of electronics applications, to acquire a majority stake in Exagan, a supplier of Gallium Nitride based transistor devices for power supply, electrical automotive, solar panel and industrial application. The signed agreement also provides for the acquisition by ST of the remaining minority stake in Exagan 24 months after the closing of the acquisition of the majority stake. Financial terms were not disclosed. “The acquisition of a majority stake in Exagan is another step forward in strengthening our global technology leadership in power semiconductors and our long-term GaN roadmap, ecosystem and business. It comes in addition to ongoing developments with CEA-Leti in Tours, France, and the recently-announced collaboration with TSMC,” Jean-Marc Chery, STMicroelectronics President and CEO.