Diodes Incorporated recently announced the acquisition of Texas Instruments' wafer fabrication facility and operations division ("GFAB") in Greenock, Scotland.

Upon completion of the acquisition, Diodes will integrate the plant's operations, including the transfer of all GFAB employees to Diodes. In addition, as part of the multi-year wafer supply agreement, Diodes will continue to manufacture analog products for TI at GFAB. TI's 318,782-square-foot facility offers 256,000 8-inch wafers per month or equivalent capacity.

Dr. Keh-Shew Lu, President and CEO of Diodes, said: "The proposed acquisition of GFAB is in line with our strategic plan for significant revenue and profit growth in the coming years. GFAB provides Diodes with additional wafer manufacturing capabilities to support our Product growth, especially our automotive expansion program, and outstanding engineering and wafer fabrication expertise to support our technical and operational performance expectations. This transaction is in line with our strategic acquisition criteria and we expect it to increase immediately."

The acquisition is expected to be completed by the end of the first quarter of 2019. The terms of the agreement have not been disclosed.