United Microelectronics Corp. (UMC) has announced that it has received final approval from government agencies for the full acquisition of Mie Fujitsu Semiconductor Limited (MIFS).
MIFS was formerly a joint venture between UMC and Fujitsu Semiconductor Limited (FSL), a 300 mm wafer foundry originally designed to produce semiconductors for the automotive market. In 2014, UMC took a 15.9% stake in MIFS, boosting its stake from an original 9.3% when the foundry was first established.
After the closing date, which is expected to happen on October 1, MIFS will be renamed United Semiconductor Japan Co. (USJC) Ltd.
Both UMC and Fujitsu have a licensing agreement for 40 nm technology and the establishment of a 40 nm logic production line. After a few years of operation, Fujitsu agreed to sell the remaining stake in the joint foundry to UMC.
UMC said the acquisition of USJC will help in its strategy to develop diversified 300 mm manufacturing capability across Asia, specifically Japan. As previously reported, the acquisition is valued at about $520.1 million.