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Diodes completes its acquisition of Lite-On Semiconductor
Diodes Incorporated has completed its close to USD 450 million acquisition of Lite-On Semiconductor (LSC).
The acquisition was initially announced in early August last year, with Lite-On shareholders approving the transaction on just a month late. Following receipt of all necessary regulatory approvals and finalising all other conditions, the transaction has now closed and become effective. The final price tag for the transaction was approximately USD 446 million. “This acquisition broadens our discrete product offerings, including providing us with a leadership position in glass-passivated bridges and rectifiers that will allow us to further extend our position in the Automotive and Industrial market spaces consistent with Diodes’ overall growth strategy,” says Diodes’ President and CEO Dr. Keh-Shew Lu, in a press release. “Further, the acquisition expands our wafer fabrication and assembly and test capacity and provides us an opportunity to improve LSC’s profitability through operating and manufacturing improvements as well as increased factory utilization,” Lu continues. Diodes original fourth quarter guidance did not include any benefit from the LSC acquisition. In its original guidance from November 9, Diodes expected revenue to be USD 324 million, plus or minus 3%. With the acquisition now closed, Diodes expects LSC will contribute about USD 17 million in additional revenue.
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