Diodes Incorporated acquires ElevATE Semiconductor for $250 million
Diodes Incorporated has completed the acquisition of ElevATE Semiconductor, a San Diego-based fabless semiconductor company specialising in integrated circuits for the automated test equipment market. The all-cash transaction is valued at USD 250 million.
ElevATE develops analog and mixed-signal semiconductor solutions for semiconductor test applications and is expected to contribute approximately USD 50 million in revenue during the first twelve months following the close. The acquisition is described as immediately accretive to Diodes' revenue, gross margin and earnings per share, according to a press release from the company.
ElevATE will operate as a product line within Diodes, with the aim of ensuring continuity for existing customers while gaining access to Diodes' global manufacturing footprint and sales network.
"ElevATE's differentiated technology, exceptional engineering capabilities, strong customer relationships, and leadership in the ATE market complement Diodes' broad analog and power portfolio, manufacturing scale, and global organisation. Together, we are well positioned to deliver broader solutions to customers, while expanding our participation in higher-value analog and mixed-signal applications," said Gary Yu, President and CEO of Diodes Incorporated.
