Navitas Semiconductor Acquires GeneSiC Semiconductor
August 15, 2022
Navitas Semiconductor (Nasdaq: NVTS) has acquired GeneSiC Semiconductor, a specialist in silicon carbide (SiC) power devices, in a cash-and-stock deal valued at roughly $100 million plus stock and potential earn-outs. The acquisition adds SiC capability and a profitable, fast-growing business (2022 revenue ~ $25M, >25% EBITDA margins) to Navitas' GaN portfolio to create a more comprehensive power-semiconductor offering for EV, solar, and industrial markets.
- Buyers
- Navitas Semiconductor
- Targets
- GeneSiC Semiconductor
- Industry
- Manufacturing
- Location
- Virginia, United States
- Transaction Type
- Buyout
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