ST has signed an agreement to acquire a majority stake in Exagan, whose expertise in epitaxy, product development and application know-how could help to broaden and accelerate ST’s power GaN roadmap. 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 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 promising compound material, gallium nitride, to drive adoption of the power products based on GaN,” said Jean-Marc Chery, President and CEO of STMicroelectronics. “It comes in addition to ongoing developments with CEA-Leti in Tours, France, and the recently-announced collaboration with TSMC.”
Gallium Nitride (GaN) belongs to the family of wide bandgap (WBG) materials which include Silicon Carbide (SiC). GaN-based devices represent a major step forward in power electronics providing high-frequency operation, with increased efficiency and higher power density compared to silicon-based transistors, leading to power savings and total system downsizing. GaN products are expected to 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.
Founded in 2014 and headquartered in Grenoble (France), Exagan is dedicated to accelerating the power-electronics industry’s transition from silicon-based technology to GaN-on-silicon technology, enabling smaller and more efficient electrical converters. Its GaN power switches are designed for manufacturing in standard 200-mm wafer fabs.