Jun 27 2006
Cree，Inc。, the world leader in the development and manufacture of semiconductor materials and electronic devices made from silicon carbide (SiC), today announced it has signed a definitive agreement to acquire privately held INTRINSIC Semiconductor Corporation, a leader in research and development of low defect density SiC substrates. Under the terms of the agreement, Cree will acquire all of the outstanding INTRINSIC capital stock and options based on a valuation of $46 million, with approximately $43.5 million to be paid in cash for the outstanding stock and the remainder to be paid through the assumption of outstanding INTRINSIC stock options. Integration of INTRINSIC’s technology into Cree’s materials product line should accelerate development of larger-diameter, high-quality SiC wafers, which should enable new high-power semiconductor devices and lower-cost LEDs.
“内在的使用其ZMP™技术开发了首个市售的Micropipe SIC底物。我们认为，Cree技术和制造专业知识与内在的ZMP技术的结合将加速100mm和150mm基板的商业化。这些底物不仅应支持我们为LED的成本路线图，而且更重要的是，它们还应该使我们能够更快地将高功率设备用于运动控制应用和混合动力汽车。
“我们很高兴加入CREE团队，” Interinsic总裁兼首席执行官Cengiz Balkas博士说。“内在的ZMP流程对Cree现有的世界一流的SIC技术和大批量制造能力的贡献是一个独特的机会，可以使新一代的具有成本效益的SIC设备更快地提供。”
The transaction is expected to be completed during July 2006 and should not have a material impact to Cree’s fiscal 2007 earnings. Cree expects to incur approximately $325,000 of nonrecurring costs in completing the acquisition.