Jan 4th, 2012
SOITEC acquires Altatec semiconductors S.A.
SOITEC a world leader in generating and manufacturing revolutionary semiconductor materials for the electronics and energy industries,announced having entered into a letter of intent which for the acquisition by Soitec, before the end of January 2012, of all of the outstanding shares composing the capital of Altatech Semiconductor, a French company located in Montbonnot Saint Martin near Grenoble (« Altatech »).
- Altatech is focusing on the development of highly efficient technologies and equipment.
- This acquisition should accelerate SOITEC’s LED and High-Concentration Photovoltaics (HCPV) development roadmap.
Altatech is a company that specializes in the development of highly efficient technologies and equipment.
Its integration within Soitec shall entitle the latter to accelerate its development roadmap in the electroluminescent diodes area, as well as in the concentrating photovoltaic systems, especially the Plug&Sun™ mini-trackers systems.
For the purposes of this transaction, Altatech’s base value was set to 15 million Euros, in line with the independent appraisal carried out at Soitec’s request by Oddo Corporate Finance. The acquisition of all of the shares composing the capital of Altatech shall be financed partly in cash and partly using Soitec stock. Selling shareholders shall be bound by certain holding requirements for the portion of the purchase price to be paid in Soitec stock.
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