February 1, 2012 — Semiconductor materials company Soitec (Euronext Paris) completed its acquisition of all of the outstanding shares of Altatech Semiconductor S.A. The final purchase price was EUR15 million.
Altatech Semiconductor gives Soitec access to specific equipment needed in its light emitting diode (LED) strategy. The buy will also support Soitec’s Plug&Sun stand-alone mini solar tracker system manufacturing ramp up. Altatech develops high-efficiency equipment for emerging semiconductor markets. It is based on high-tech semiconductor production technologies.
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The acquisition was financed partly in cash and partly using Soitec stock, purchased by BNP Paribas Exane on the market under the share buy-back program approved by the shareholders during the combined ordinary and extraordinary meetings held on June 24, 2011. Selling shareholders are bound by certain holding requirements for the portion of the purchase price to be paid in Soitec stock.
Altatech Semiconductor is located in Montbonnot-Saint-Martin near Grenoble, France.
Soitec manufactures revolutionary semiconductor materials for energy and electronic applications. For more information, visit www.soitec.com.