Panasonic completes transfer of semiconductor business to Nuvoton
Panasonic Corp of Osaka, Japan has completed the transfer of its semiconductor business – which is mainly operated by Panasonic Semiconductor Solutions Co Ltd (PSCS) – to Taiwan-based Nuvoton Technology Corp, a semiconductor company under the umbrella of Winbond Electronics Corp group, following the receipt of regulatory approvals.
Since the transfer was announced last November, Panasonic and Nuvoton have been collaboratively pursuing anti-trust clearance and other customary regulatory approvals from the competent authorities, with a target effective date of 1 June. However, the closing date was postponed due largely to the COVID-19-induced delay in clearance processes. The transaction has now been completed with all the necessary approvals obtained.
Restructuring of the semiconductor business, announced along with the transfer, has already been completed prior to the transaction.
Panasonic says that, going forward, it remains committed to focusing on its B-to-B business. In the industrial solutions business, it has identified ‘Automotive CASE’, ‘Information Network Infrastructure’ and ‘Automation/Labor-savings’ as three key areas of focus.
Following completion of the transfer, PSCS is being renamed Nuvoton Technology Corporation Japan.
The transaction includes all shares of PSCS, equipment and inventories of Panasonic Semiconductor (Suzhou) Co Ltd, and assets, liabilities and contracts related to predefined specific business of Panasonic Industrial Devices Semiconductor Asia.
Nuvoton not only acquires PSCS’ R&D manpower, plus sensing, microcontroller and component technologies but also land in Nagaokakyo City, Kyoto Prefecture and four other locations. In the long term, Nuvoton is expected to enhance the technology capabilities, diversify the product line, enlarge its business scope as well as revenue growth, gain additional market shares and therefore increase its visibility in both Japan and the global market.
Through the acquisition, Nuvoton aims to capture the
long-term growth trends in the industrial automation and automotive sectors,
create a strategic position for its industrial growth, expand global sales
channels and boost its influence in the global semiconductor industry.
