On December 2, STMicroelectronics announced the completion of the overall acquisition of Swedish silicon carbide (SiC) wafer maker Norstel AB. After the first transaction was announced in February 2019, STMicroelectronics exercised its options and acquired the remaining 45% of its shares. Norstel's acquisitions totaled $ 137.5 million and were paid in cash.
According to reports, Norstel will be fully integrated into ST's global R & D and manufacturing business, and continue to develop 150mm silicon carbide die and epitaxial wafer production business to develop 200mm wafers.
Norstel was spun off from Linköping University in 2005 to develop and produce 150mm SiC bare wafers and epitaxial wafers. ST said that after the transaction is completed, it will bring itself an important growth opportunity in the context of limited global production capacity.
In fact, as early as this year, ST signed a multi-year supply agreement with Cree. During the current significant increase in demand for the SiC power device market, Cree will supply STMicroelectronics with US $ 250 million Cree's advanced 150mm SiC bare wafers And epitaxial wafers. The acquisition of Norstel is another response made by ST under the shortage of SiC wafer capacity.