- Semiconductor Manufacturing International Corp. (BATS:SMI-OLD -2.4%) acquires a 70% stake in Avezzano, Italy-based LFoundry for €49M. After the transaction, current owners LFoundry Europe GmbH and Marsica Innovation S.p.A. will each own 15%.
- The deal will boost SMIC's overall capacity from 302.6K 8-inch wafers per month to 342.6K per month.
- LFoundry focuses on automotive, security and industrial-related applications including CIS, smart power, touch display driver ICs and embedded memory.
- Management will host a conference call on Monday, June 27 at 8:30 am Shanghai time (Sunday, June 26 at 8:30 pm ET) to discuss the deal.
SMIC buys majority stake in chip fabricator LFoundry for €49M
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| Symbol | Last Price | % Chg |
|---|---|---|
| SMI-OLD | - | - |
| Semiconductor Manufacturing International Corporation | ||