Transphorm closes deal in Japan
Goleta-based Transphorm announced the close of its acquisition of a Japanese-based water fabrication company on Aug. 2, alongside its new joint venture capital partner, JCP Capital.
The facility, located in Aizu Wakamatsu, Japan, is considered to be the premier wafer manufacturing fab in the world for high-voltage gallium nitride power semiconductors, according to a press release from Transphorm on the transaction.
The deal also completes the planned and previously announced exit of Fujitsu Semiconductor, the initial joint venture partner. No financial details were disclosed.
Transphorm, a gallium nitride power conversion device maker, said in its news release that this is “a strong step forward.”
“The partnership with GaNovation and JCP Capital is the ideal next step in Transphorm’s rapid growth and manufacturing of its highest quality-highest reliability GaN wafers and products, continuing our asset-light vertically integrated model with strong IP dominance and protection,” said Primit Parikh, co-founder and president of Transphorm.
Transphorm announced its full year 2020-2021 fiscal year results on June 25, highlighting a slight bump in revenue, up to $12.7 million, but net losses continue to mount, as the company had a loss of $20.3 million for the full year, or 56 cents per share.
Transphorm currently trades over the counter, with shares closing at $4.32 on Aug. 2. The company has said it plans to list on the Nasdaq Capital Market, a tier of the Nasdaq for smaller-cap companies, in the second half of 2021.