PLANO, Texas, August 28 — Diodes Incorporated (Diodes) (Nasdaq: DIOD) today announced the successful completion of its acquisition of ElevATE Semiconductor, Inc. (“ElevATE”), a leading provider of high-performance integrated circuits for the Automated Test Equipment (ATE) market, in an all-cash transaction for $250 million.
ElevATE is a fabless semiconductor company based in San Diego, California that specializes in the development of highly integrated, low-power analog and mixed-signal semiconductor solutions that address the industry’s most demanding semiconductor test challenges. The acquisition expands Diodes’ analog and mixed-signal product portfolio and strengthens the company’s position in attractive, high-growth end markets driven by increasing semiconductor complexity and test intensity.
“The completion of the ElevATE acquisition marks an important milestone in advancing Diodes’ portfolio and content expansion initiatives to capitalize on the growing demand for semiconductor test solutions,” said Gary Yu, President and Chief Executive Officer of Diodes Incorporated. “First, I would like to welcome ElevATE employees to the Diodes’ family. ElevATE’s differentiated technology, exceptional engineering capabilities, strong customer relationships, and leadership in the ATE market complement Diodes’ broad analog and power portfolio, manufacturing scale, and global organization. Together, we are well positioned to deliver broader solutions to customers, while expanding our participation in higher-value analog and mixed-signal applications.”
As previously announced, ElevATE is expected to contribute approximately $50 million in revenue during the first twelve months following the acquisition close and is anticipated to be immediately accretive to Diodes’ revenue, gross margin, and earnings per share. ElevATE will operate as a product line within Diodes, ensuring continuity for customers while benefiting from Diodes’ global infrastructure, manufacturing footprint, and worldwide sales network.