SMIC Buys 70% of LFoundry for 49M Euros

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BusinessWire: LFoundry (Italy) and its investor Marsica Innovation S.p.A. (MI) announce the agreement to sell to SMIC a 70% stake of LFoundry for 49M Euros. At the closing, SMIC, LFoundry and MI will own 70%, 15% and 15% of the corporate capital of the target respectively.

In fiscal year 2015, LFoundry revenue was 218M EUR. LFoundry’s capacity is 40,000 8-inch wafers per month. LFoundry used to be Micron's fab manufacturing image sensors for Aptina and continues it now as an independent foundry. At the same time, LFoundry offers 110nm CIS process on the foundry basis.

Sergio Galbiati, the Managing Director of MI and Chairman of LFoundry srl, said, “This is the beginning of a new era for LFoundry and our Italian fab. We are pleased to become part of a very strong worldwide player, SMIC. Together we can further improve LFoundry’s strength on optical sensor related technology, which is well recognized worldwide, and continue to contribute to the growth of technology in Europe, thanks to our partnerships with many relevant players. The agreement with SMIC will enable us to have a stronger level playing field in Europe.”

LFoundry, Avezzano, Italy

Thanks to ESG for the link!
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