onsemi completes the acquisition of GT Advanced Technologies

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Strengthens onsemithe ability to stimulate innovation and invest in disruptive and high-growth technologies

Accelerated onsemisilicon carbide (SiC) capabilities to meet customer demand for SiC-based solutions

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

PHÉNIX, November 01, 2021– (BUSINESS WIRE) –onsemi (Nasdaq: ON), a leader in intelligent power and sensing technologies, today announced that it has completed the acquisition of GT Advanced Technologies (“GTAT”), a producer of silicon carbide (SiC). The acquisition strengthens onsemiability to secure and develop the supply of SiC.

onsemiGTAT customers will benefit from GTAT’s extensive experience in crystal growth as well as its impressive technical capabilities and expertise in the development of wafering-ready SiCs. 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 expand and accelerate the development of SiC by GTAT to ensure the supply of critical components to customers and further commercialize smart energy technologies.

“We are delighted to have completed this acquisition, which allows us to increase the supply of SiC as we accomplish our mission of building a sustainable future,” said Hassane El-Khoury, President and CEO of onsemi. “As we move towards a carbon-free economy, SiC technology is a key driver for enabling zero emissions in high-efficiency electric vehicles, renewables 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 the incredibly talented employees of GTAT to the onsemi family. Their experience and knowledge in the SiC space is second to none, and we look forward to working together to drive important new innovations that are essential for the growth of the sustainable ecosystem. “

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

About onsemi

onsemi (Nasdaq: ON) drives disruptive innovations to help build a better future. With a focus on automotive and industrial end markets, the company is accelerating the shift in megatrends such as vehicle electrification and safety, sustainable energy grids, industrial automation and 5G and cloud infrastructures. With a portfolio of highly differentiated and innovative products, onsemi creates intelligent power and sensing technologies that solve the world’s most complex challenges and lead the way in creating a safer, cleaner and smarter world. Learn more about onsemi at www.onsemi.com.

onsemi and the onsemi are registered trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders. Although the company refers to its website in this press release, any such website information should not be incorporated herein.

Cautions Regarding Forward-Looking Statements

Certain statements contained in this press release, including, without limitation, the expected closing of transactions and the potential effects thereof, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are often characterized by the use of words such as “believes”, “believes”, “expects”, “plans”, “could”, “want”, “intention”, “plans”, “should” or “Anticipates” and similar expressions. All forward-looking statements contained in this press release are based on onsemicurrent expectations, forecasts, estimates and assumptions of and involve risks, uncertainties and other factors that could cause results or events to differ materially from those expressed in forward-looking statements. Among these, these risks and uncertainties include, but are not limited to, the risks associated with the integration of GTAT, including potentially accretive and synergistic benefits and that the expected benefits may not materialize as expected. Additional factors that could cause results to differ materially from those projected in forward-looking statements are contained in onsemiAnnual Report 2020 on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and others from onsemidocuments filed with the SEC. onsemi assumes no obligation to update this information, except as required by law.

View the source version on businesswire.com: https://www.businesswire.com/news/home/20211101005252/en/

Contacts

Media contacts:

Stefanie Cuene
Business communication
onsemi
+1 (602) -244-3402
[email protected]

Finsbury Glover Hering for onsemi
+1 (646) -805-2000
[email protected]

Investor contact:

Parag Agarwal
Vice-President – Investor Relations and Corporate Development
onsemi
+1 (602) -244-3437
[email protected]


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