Vishay Snaps MaxPower Semiconductor For $50M Cash Plus Earnouts To Serve Fast-Growing EV Market - Vishay Intertechnology (NYSE:VSH)

Vishay Intertechnology, Inc VSH, a manufacturer of discrete semiconductors and passive electronic components, scooped MaxPower Semiconductor, Inc on October 28.
The purchase price included cash consideration of $50.0 million and contingent payments of up to $57.5 million, payable upon achieving certain technology milestones.
Vishay will incorporate MaxPower into its MOSFETs reportable segment.
MaxPower is a San Jose, California-based fabless power semiconductor provider.
With a substantial IP portfolio of over 100 patents, MaxPower's proprietary device structures and process techniques provide leading-edge silicon and SiC MOSFET products. Its SiC product development includes trench and planar technologies from 650V to 1,700V, targeting automotive and industrial applications.
"MaxPower's team of world-renowned power semiconductor experts brings extensive experience in R&D, design, and application of power devices, and we look forward to working with the team to develop product offerings that will serve fast-growing markets such as electric vehicles and enhance our leadership in MOSFETs," said Dr. Gerald Paul, President, and Chief Executive Officer.
Vishay held $855.8 million in cash and equivalents and generated $117.5 million in operating cash flow as of July 3.
Price Action: VSH shares are down by 1.30% at $20.82 on the last check Monday.