Elmos Semiconductor SE needed to dispose of its operational 200mm fab based in Dortmund, Germany and find a sustainable solution for its employees, customers, and the site as it transitions its manufacturing to a more foundry-dependent model.
Following the global campaign that ATREG conducted to market the fab, over 60 companies engaged in a dialogue and over 20 NDAs were signed, leading to a highly competitive bidding process. It was eventually decided that Swedish pure-play MEMS foundry Silex Microsystems AB was the best fit for Elmos. ATREG structured a unique transaction model that met all of Elmos’ business objectives, including the lease of the first floor of the manufacturing building to Silex and the transfer of employees and equipment with a five-year supply agreement.
• After only nine months on the market, the fab sold for a net price of €77.5 million plus approx. €7 million for the work-in-progress inventory, representing a total purchase price of around €85 million.
• Elmos will retain testing activities for its products and buy processed wafers produced at the fab.
• Elmos will transfer all relevant assets and contracts directly linked to wafer manufacturing into the newly founded stand-alone foundry operation.
• At closing expected in H2 2022, Silex will acquire 100% of the entity’s shares, including direct and indirect personnel under the leadership of the fab’s former management.
• Elmos remains the building owner, but will lease the cleanroom to Silex and provide the buyer with all necessary infrastructure, utilities, IT support, and licenses.
