onsemi Completes Acquisition of GT Advanced Technologies

Strengthens onsemi’s ability to drive innovation and to invest in disruptive, high-growth technologies

Accelerates onsemi’s silicon carbide (SiC) capabilities to meet customer demand for SiC-based solutions

Assures customers supply of SiC devices to support the rapid growth of the sustainable ecosystem

PHOENIX – Nov. 1, 2021 – onsemi (Nasdaq: ON), a leader in intelligent power and sensing technologies, today announced that it has completed its acquisition of GT Advanced Technologies (“GTAT”), a producer of silicon carbide (SiC). The acquisition enhances onsemi’s ability to secure and grow supply of SiC.

onsemi’s customers will benefit from GTAT’s extensive experience in crystalline growth as well as its impressive technical capabilities and expertise in the development of wafering-ready SiC. SiC is a key component of next-generation semiconductors that provide technical benefits and improve system efficiency in many applications, including electric vehicles (EVs), EV charging and energy infrastructure. onsemi intends to scale and accelerate GTAT’s development of SiC to assure customers supply of critical components and further commercialize intelligent power technologies.

“We are thrilled to have completed this acquisition, which enables us to boost SiC supply as we carry out our mission of building a sustainable future,” said Hassane El-Khoury, president and chief executive officer of onsemi. “As we move to a carbon free economy, SiC technology is a key driver to enable zero emissions in high efficiency electric vehicles, renewable energy and charging infrastructure. By integrating GTAT, onsemi can now provide end-to-end power solutions from SiC crystal growth to fully integrated intelligent power modules.”

El-Khoury continued, “We are proud to welcome GTAT’s incredibly talented employees to the onsemi family. Their experience and insights in the SiC space are second to none, and we look forward to working together to drive important new innovations that are critical to the growth of the sustainable ecosystem.”

The acquisition reinforces onsemi’s commitment to make substantial investments in disruptive, high-growth technologies to drive differentiation and leadership, including in the SiC ecosystem. onsemi plans to invest in expanding GTAT’s manufacturing facilities, supporting research and development efforts to advance 150mm and 200mm SiC crystal growth technology, while also investing in the broader SiC supply chain, including Fab capacity and packaging.