Aug 6 2004
Intrinsic Semiconductor, a privately held manufacturer of wide bandgap materials, today announced that it is has entered into a definitive agreement to acquire Bandgap Technologies, Inc. (Columbia, SC). Bandgap Technologies is a defense contractor and a manufacturer of silicon carbide (SiC) wafer products.
Dr. Cengiz Balkas, Intrinsic President and CEO stated, "The strategic acquisition of Bandgap allows Intrinsic to more rapidly offer an increased variety of SiC wafer products. Recently, we have introduced state of the art GaN epitaxial services on internally produced wafers. This transaction provides Intrinsic with the added production capacity to serve the expanding SiC and GaN technology markets. Furthermore, the combined companies will accelerate SiC development cycle times as well as improve upon Intrinsic’s distinct intellectual property position."
"The unique and highly efficient SiC crystal growth and wafering technologies developed at Bandgap are an excellent fit with Intrinsic’s business strategy. Our team is very pleased to be joining Intrinsic Semiconductor and look forward to continuing our efforts in developing the industry’s highest-quality, largest diameter SiC crystals," said Dr. Yuri Khlebnikov, President of Bandgap Technologies.
Both companies are working towards a rapid consolidation. It is anticipated that joint operations will be fully integrated by the end of August 2004.
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