MagnaChip Semiconductor Corp. announced that its Korean subsidiary has entered into a definitive agreement to acquire Dawin Electronics Co. Ltd., a privately held semiconductor company that designs and manufactures Insulated Gate Bipolar Transistor (IGBT), Fast Recovery Diode (FRD) and MOSFET modules. Dawin Electronics is headquartered in Incheon, South Korea, and has sales offices in China and Europe. Terms of the deal were not disclosed.
"The acquisition of Dawin Electronics is a strategic fit for MagnaChip and allows us to continue to diversify and expand our fast-growing Power Solutions business into the commercial and industrial segments," said Sang Park, MagnaChip’s Chairman and CEO. "Dawin’s high-power modules will enable MagnaChip to compete quickly and effectively in the high-growth IGBT market with a broader portfolio of power solutions for our customers. This acquisition also demonstrates our continued focus on capital allocation and commitment to return shareholder value to our investors."