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STMicro: acquisition of majority share in Exagan

( - STMicroelectronics announces the signing of an agreement to acquire a majority stake in the capital of Exagan, a French company at the forefront of innovation in gallium nitride (GaN).

"Acquisition will accelerate ST's GaN expertise, roadmap and business for high-frequency, high-power automotive, industrial and consumer applications," the group said.

This acquisition is funded with the group's available cash and its closing remains subject to regulatory approvals. The agreement also provides for the acquisition of the remaining minority stake 24 months after the purchase of the majority stake.

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