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Smith to divest its Its solar division
The distributor of electronic components says that it has signed an agreement to sell its solar sales and services division, known as ONTILITY Powered by Smith, to BBB Industries, LLC under its new division, TerrePower.
Smith co-founders Bob and Lee Ackerley established ONTILITY in 2009 and brought it under the Smith umbrella back in 2016. It has since seen continued growth year over year. “Smith has been an incredible incubator, and, after more than 10 years in business, we are very pleased to bring our robust operations and experienced workforce to BBB Industries,” says Alexandra Harrison, EVP of Sales and Procurement at ONTILITY, in a press release. “Bob and Lee Ackerley’s mentorship has pushed ONTILITY to new heights and positioned us for continued success as we venture forward within the burgeoning solar-power industry.” All current ONTILITY employees will transfer to the new company in connection with the acquisition. Additionally, Lindsey Garland, Smith’s Director of Corporate Strategy, will join TerrePower as Director of Finance for ONTILITY. “Over the last decade, ONTILITY has become a leader in solar products and technology, and I am excited to see these talented employees thrive in this next chapter under BBB Industries,” says Kirk Wehby, Chief Executive Officer at ONTILITY and Chief Operating Officer at Smith. “As we move forward, sustainability will remain a key tenet of Smith’s business model, and we will continue to pursue opportunities to promote environmental stewardship in our operations.”
Jochen Hanebeck to succeed Reinhard Ploss as CEO of Infineon The Supervisory Board of German chip giant, Infineon, has decided that Jochen Hanebeck will take over as the new Chief Executive Officer of Infineon Technologies AG on 1 April 2022.
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Jenoptik signs agreement to sell Vincorion Jenoptik AG has signed an agreement to sell the Vincorion division. It will be acquired by a fund managed by private equity firm STAR Capital Partnership LLP.
NAND Flash revenue rises by 15% QoQ for 3Q21 The growth of the NAND Flash market in 3Q21 was primarily driven by strong demand from the data center and smartphone industries, according to TrendForce’s latest investigations.
Samsung to invest $17 billion in new Texas fab South Korean electronics giant, Samsung, has chosen Taylor, Texas to build a new, USD 17 billion, semiconductor manufacturing facility.
Qualcomm acquires Clay AIR Clay AIR, an AI powered hand tracking and gesture recognition technology company, has been acquired by Qualcomm.
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AmpliTech to acquire Spectrum Semiconductor Materials AmpliTech Group, a designer, developer and manufacturer of signal-processing components, has executed a definitive agreement to acquire the assets and operations of San Jose-based Spectrum Semiconductor Materials Inc., a specialty distributor of semiconductor components.
Veeco ships first system from new manufacturing facility Veeco Instruments says that the company has shipped the first LSA101 Laser Spike Annealing System from its new San Jose, California facility to an unnamed semiconductor manufacturer.
Smith to divest its Its solar division The distributor of electronic components says that it has signed an agreement to sell its solar sales and services division, known as ONTILITY Powered by Smith, to BBB Industries, LLC under its new division, TerrePower.
TTI to acquire SMD Inc. Specialty distributor of electronic components, TTI, Inc.,has entered into a purchase agreement to acquire SMD Inc., a privately held electronic component distributor headquartered in Irvine, California.
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Former GlobalFoundries executive to lead IQE Following an extensive and rigorous search process, the board of the UK supplier of compound semiconductor wafer products announces that it has appointed Americo Lemos as Chief Executive Officer, starting on 10 January 2022.
New promotions at Velocity Electronics The electronic components distributor announces that it has promoted Hal Juergens to Global Vice President of Sales Operations and also promoted Grant Schnabel to Global VP of Sales and Business Development.
GaN Systems raises $150M to speed up adoption of GaN technology GaN Systems announces a USD 150 million growth capital funding round to accelerate innovation and adoption of GaN technology across its automotive, consumer, industrial, and enterprise markets.
Ian Wallace to shoulder new business development role at Digi-Key Electronic component distributor, Digi-Key Electronics, has promoted Ian Wallace has been to vice president, Americas and EMEA business development.
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GlobalFoundries and Ford are aiming to boost chip supplies Semiconductor manufacturer, GlobalFoundries, says it is entering into a strategic collaboration with Ford Motor Company with the aim of advancing semiconductor manufacturing and technology development within the United States. The companies are looking to boost chip supplies for Ford and the US auto industry.
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BMW turns to Qualcomm for automated driving collaboration Qualcomm Technologies will bring the latest advancements in driver assistance technologies, and products of its Snapdragon Ride Platform, to BMW Group's next generation of advanced driver-assistance systems (ADAS) and automated driving (AD) platforms.
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btv technologies expands production capacities in Romania Following a planning phase of almost two months, implementation has the company's complete focus. On November 01, 2021, three additional programming machines form the manufacturer Data I/O PSV7000 were put into operation in Timisoara, Romania.
Qualcomm sets new growth targets Qualcomm said that it is continuing to expand its chipset business to meet the growing opportunity for its technology at its 2021 Investor Day. The Company expects its addressable opportunity to grow from approximately USD 100 billion today to USD 700 billion in the next decade, as more devices become intelligently connected.
Riber receives order for a new production machine in Asia Riber, a supplier of semiconductor industry equipment, is announcing an order for a MBE 6000 production system in Asia. While not disclosing the exact value of the deal, the company says the total value amount to several million euros.
UK orders further investigation of Nvidia's takeover of Arm Digital Secretary Nadine Dorries has orded the UK's Competition & Markets Authority (CMA) to carry out an in-depth Phase Two investigation of Nvidia's acquisition of Arm over competition and national security concerns.
Piezo Motion and Precise Motion unite Developer and manufacturer of precision motor technology and Brain Scientific company, Piezo Motion, and motion control and industrial automation solutions specialist, Precise Motion & Control, announces a distribution partnership.
Murata expands with new production building in Thailand Murata Electronics (Thailand), Ltd., a manufacturing subsidiary of Murata Manufacturing, has started construction on a new production building.
Würth Elektronik sets up subsidiary in South Korea Opening up a new market is difficult, but Würth Elektronik's South Korean team was successful and reached a milestone; the foundation of Wurth Electronics Korea Ltd.Load more news