Exagan’s expertise in epitaxy, product development and application know-how will broaden and accelerate ST’s power GaN roadmap and business for automotive, industrial and consumer applications. Exagan will continue to execute its product roadmap and will be supported by ST in the deployment of its products.
Terms of the transaction were not disclosed and closing of the acquisition remains subject to customary regulatory approvals from French authorities. 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. The transaction is funded with available cash.
“ST has built strong momentum in silicon carbide and is now expanding in another very promising compound material, gallium nitride, to drive adoption of the power products based on GaN by customers across the automotive, industrial and consumer markets,” said Jean-Marc Chery, president and CEO of STMicroelectronics.
Gallium Nitride (GaN) belongs to the family of wide bandgap (WBG) materials which include Silicon Carbide.
GaN products will address a wide variety of applications such as power factor correction and DC/DC converters in servers, telecom and industrial applications, on-board chargers for EV and DC-DC converters for automotive applications, as well personal electronics applications like power adaptors.