GlobalWafers Co. Ltd., Taiwan, announces that it has agreed to acquire SunEdison Semiconductor Ltd., Singapore, because of SunEdison’s expansive global footprint and product development capabilities. They have entered into a definitive agreement for GlobalWafers to acquire all of the outstanding ordinary shares of SunEdison Semiconductor in a transaction valued at $683 million, including outstanding net indebtedness.
According to Doris Hsu, Chair and CEO of GlobalWafers, “We believe this combination is unique in that it merges two of the market’s key suppliers with minimal overlap in customers, products, and production capacities. The combined company will bring together GlobalWafers’ unparalleled operating model and market strengths, with SunEdison’s expansive global footprint and product development capabilities.”
GlobalWafers will finance the transaction, including payment of the purchase price and payment of SunEdison Semiconductor’s debt facilities at closing, through existing cash on hand and committed acquisition financing from the Bank of Taiwan, Hua Nan Commercial Bank, Mega International Bank, Taipei Fubon Bank, and Taishin International Bank.
GlobalWafers expects a number of strategic and operational benefits from this transaction, including meaningful expansion of GlobalWafers’ production capabilities; and greater breadth in GlobalWafers’ product and global customer base, including greater access to the E.U. and Korea, as well as SOI product technologies
