STMicroelectronics closes acquisition of silicon carbide wafer specialist Norstel AB

PR N° C2930CSTMicroelectronics closes acquisition
of silicon carbide wafer specialist Norstel ABST strengthens its internal SiC ecosystem, from materials expertise and process engineering to SiC-based MOSFET and diodes design and manufacturingGeneva, Switzerland – December 2, 2019 – STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, today announced the closing of the full acquisition of Swedish silicon carbide (SiC) wafer manufacturer Norstel AB (“Norstel”). ST exercised its option to acquire the remaining 45% stake, following the initial transaction announced in February 2019. The total consideration for the acquisition of Norstel was $137.5 million, funded with available cash.“At a time of constrained global capacity for silicon carbide, the full acquisition of Norstel will strengthen our internal SiC ecosystem: it will boost our flexibility, allow us to control better the improvement of yield and quality of the wafers, and support our long-term silicon carbide roadmap and business,” said Jean-Marc Chery, President and CEO of STMicroelectronics. “This acquisition comes in addition to wafer supply agreements signed with third parties, with the overall goal to secure the required level of wafers to manufacture MOSFET and diodes for the automotive and industrial customer programs that will ramp up over the next years.”Norstel will be fully integrated into ST’s global R&D and manufacturing operations. It will continue growing its activities covering both the production of 150mm bare and epitaxial silicon carbide wafers and R&D on 200mm production as well as, more broadly, on wide bandgap materials.About STMicroelectronics
ST is a global semiconductor leader delivering intelligent and energy-efficient products and solutions that power the electronics at the heart of everyday life. ST’s products are found everywhere today, and together with our customers, we are enabling smarter driving and smarter factories, cities and homes, along with the next generation of mobile and Internet of Things devices.
By getting more from technology to get more from life, ST stands for life.augmented.In 2018, the Company’s net revenues were $9.66 billion. Further information on ST can be found at www.st.com.For further information, please contact:
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alexis.breton@st.com AttachmentC2930C – Norstel closing PR FINAL FOR PUBLICATION