Soitec announced the successful completion of its acquisition of all of the outstanding shares composing the capital of Altatech Semiconductor S.A., a French company located in Montbonnot Saint Martin near Grenoble (« Altatech »), as announced on December 23, 2011.
The final purchase price was set to 15 million Euros. 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.
This acquisition will ensure Soitec a strategic access to specific equipments necessary to deliver its light-emitting diode (LED) strategy as well as to support Soitec’s new Plug&Sun™ stand-alone mini solar tracker system manufacturing ramp up.
Altatech Semiconductor was a privately held French company located in Montbonnot-Saint-Martin near Grenoble, France. Based on its advanced knowledge and experience in high-tech semiconductor production systems, Altatech, created in 2004 by a group of semiconductor professionals, currently develops highly efficient, cost-effective technologies and equipments for new applications in emerging markets.