Brief: Navitas Semiconductor Announces Acquisition Of Genesic Semiconductor

Navitas Semiconductor

15/08/2022 21:06

Aug 15 (Reuters) - Navitas Semiconductor Corp  NVTS.O :
    * NAVITAS SEMICONDUCTOR, INDUSTRY-LEADER IN GALLIUM NITRIDE
POWER
ICS, ANNOUNCES ACQUISITION OF GENESIC SEMICONDUCTOR, SILICON
CARBIDE PIONEER
    * NAVITAS SEMICONDUCTOR CORP - ACQUISITION OF GENESIC IS
EXPECTED
TO BE IMMEDIATELY ACCRETIVE TO NAVITAS' EARNINGS PER SHARE
    * NAVITAS SEMICONDUCTOR - RANBIR SINGH JOINS CO AS EVP FOR
GENESIC
BUSINESS AND NAVITAS EXPECTS TO RETAIN ALL MEMBERS OF GENESIC
TEAM
    * NAVITAS SEMICONDUCTOR CORP- PROPOSED DEAL FOR ABOUT $100
MILLION
IN CASH, 24.9 MILLION SHARES OF NAVITAS STOCK AND POSSIBLE
EARN-OUT PAYMENTS OF UP TO $25 MILLION
    * NAVITAS SEMICONDUCTOR CORP - TOTAL CONSIDERATION CONSISTED
OF
APPROXIMATELY $100 MILLION IN CASH

Source text for Eikon:  ID:nGNX8mD18f 
Further company coverage:  NVTS.O 

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