Taiwan-based foundry GlobalWafers Co. Ltd. has signed a definitive agreement to acquire SunEdison Semiconductor in an all-stock transaction valued at $683 million.
Under the deal, GlobalWafers will expand its production capabilities, and the company will have greater access to the European and Korean markets as well as silicon-on-insulator technologies.
“We look forward to a smooth process to facilitate an efficient closing, which we hope can occur before the end of the year,” says Shaker Sadasivam, president and CEO of SunEdison Semiconductor.
SunEdison was originally part of beleaguered solar company SunEdison Inc. but spun off the silicon wafer business after falling on hard times. Later it would sell its stake in the subsidiary. Since that time and as a result of a faltering PC market, SunEdison Semiconductor has been struggling with losing profits and disclosed it was seeking alternative options for support.
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