Soitec finalises acquisition of TraciT
This strategic acquisition will expand the Soitec Group's intellectual property, particularly in highly complementary areas. With TraciT, Soitec enters new electronic markets, thanks to fully-processed electronic circuits transfer technology, which has short-term applications for wafer-level packaging. The Board of Directors have noted the lifting of all the suspensive conditions referred to in the capital contribution contract signed on May 31, 2006 as amended on July 21, 2006, agreed upon the issuance of 809,307 new Soitec shares in full and final consideration for the total registered share capital of TraciT Technologies S.A.
Andre-Jacques Auberton-Herve, Chairman and CEO of Soitec, said, "The finalisation of our acquisition will allow us to quickly deploy the resources required for the industrial development of TraciT Technologies. The closeness and complementing nature of our businesses highlight the strategic advantage of this merger, which will accelerate the promising development of TraciT in the Soitec Group."