X-Fab to buy assets of Altis

X-FAB Silicon Foundries has today announced that it will acquire the assets of Altis Semiconductor, a specialty stand-alone foundry located in the Greater Paris area, out of insolvency proceedings.
With both companies serving complementary markets and applications, this acquisition roughly doubles the company’s 8-inch capacity to meet the growing demand for its manufacturing technologies, as well as significantly increasing its European footprint.
Based on the characteristics of X-FAB’s technologies and end markets, the acquisition also ensures the long-term existence and development of the site in Corbeil-Essonnes and, as part of a larger group, will also enhance its competitiveness.
It is part of X-FAB’s strategy to strongly invest in R&D activities for the development of proprietary technologies, which will also apply to the new site.
“We are very glad about the decision taken by the court and appreciate the trust that has been placed upon us,” says Rudi De Winter, CEO of X-FAB Group, “I am convinced that this acquisition will be of benefit for all parties involved with Altis Semiconductor being a perfect fit for X-FAB on our way to becoming the foundry of choice for the analogue world. It enables us to quickly expand our capacities to meet rising customer demand. With our proven track record in integrating and developing new sites, we will make every effort to ensure a smooth transition of the former Altis operation into the X-FAB Group providing a sustainable future for the site.”
The assets will be transferred into the newly founded X-FAB France SAS. The completion of the acquisition is subject to local laws and regulations and customary closing conditions. Terms of the acquisition were not disclosed.

Source:  http://www.electronicsweekly.com