Littelfuse, Inc. LFUS has agreed to acquire a 200mm wafer fab in Dortmund, Germany, from Elmos Semiconductor SE for ~ €93 million.
The acquisition price will be paid in parts, with €37 million paid following regulatory approvals and €56 million paid at closure.
The transaction expands business opportunities in high-growth industrial end markets and provides a highly skilled technical team with extensive 200mm manufacturing and development experience.
"Key to our sustained success is expanding our portfolio of technologies and growing internal capabilities to enable us to meet the increasing demands of our customers in high-growth power conversion applications," commented Chad Marak, Senior Vice President and General Manager of Littelfuse Semiconductor Business.
Littelfuse held cash and equivalents of $427.5 million as of April 1, 2023.
The acquisition is expected to close early in FY25 and not have a material impact on LFUS' FY23 or FY24 financial results.
Price Action: LFUS shares traded higher by 0.23% at $281.28 on the last check Wednesday.
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