Navitas Semiconductor, an IC chips manufacturer, completed the acquisition of GeneSiC Semiconductor, a semi conductor manufacturer, for $311m. “GeneSiC’s patent-protected, advanced technology and innovative, experienced team are critical factors in the growth of our company. Our SiC MOSFETs offer the industry’s highest performance, reliability, and ruggedness – parameters critical towards widespread adoption of electric vehicles and associated infrastructure. With almost 20 years of leading-edge R&D, proven platforms, over 500 diverse customers, and growing revenue and profitability, we can leverage Navitas’ mass-production expertise and go-to-market strategy to accelerate SiC revenues. We are very excited about this new partnership," Ranbir Singh, GeneSiC President.