PARIS – Early June, Silicon-on-Insulator wafer supplier Soitec SA concluded an agreement to acquire all the shares of TraciT Technologies, a Grenoble-based company specialized in thin layer transfer technologies that leverage molecular adhesion and mechanical, as well as chemical, thinning processes for the production of micro-electro mechanical (MEMS) and power circuits. The transaction is now finalized.
Soitec said its board of directors lifted all the suspensive conditions referred to in the capital contribution contract signed on May 31 and amended on July 21. The board also agreed upon the issuance of 809,307 new Soitec shares (a nominal capital increase of 61,507.332 euros) in full and final consideration for the total registered share capital of TraciT Technologies.
Through this acquisition, Soitec said it expects to expand its intellectual property and gain access to new electronic markets “thanks to fully-processed electronic circuits transfer technology, which has short-term applications for wafer-level packaging."
Commenting on the transaction, André-Jacques Auberton-Hervé, Chairman & CEO of Soitec, declared: “The finalization of our acquisition will allow us quickly to deploy the resources required for the industrial development of TraciT Technologies. The closeness and complementarities of our businesses highlights the strategic advantage of this merger, which will accelerate the promising development of TraciT in the Soitec Group.”