Navitas invests $5M in Magnachip to advance SiC technology

Navitas Semiconductor (Nasdaq: NVTS) has agreed to make a $5 million strategic equity investment in Magnachip Semiconductor (NYSE: MX), the companies announced, deepening a partnership formed to develop silicon carbide power semiconductor technology.

Under a privately negotiated stock purchase agreement, Magnachip will issue 1,461,988 shares of common stock to Navitas at $3.42 per share. The transaction is expected to close on or about September 24, 2026, subject to customary closing conditions.

The investment follows a July 2026 partnership announcement in which Magnachip licensed Navitas' GeneSiC Trench-Assisted Planar technology for applications spanning 1,200 V, 2,300 V, 3,300 V and higher-voltage markets. Magnachip is also gaining access to Navitas' silicon carbide supply chain and materials ecosystem, with plans to port, qualify and internalize the technology at its fabrication facility in South Korea.

The two companies are targeting applications in energy and grid infrastructure, energy storage, industrial electrification, automotive and other high-power systems.

"By combining Navitas' proven GeneSiC technology and materials ecosystem with Magnachip's power semiconductor expertise, manufacturing capabilities and customer relationships, we believe we can accelerate our entry into attractive high-voltage and ultra-high-voltage markets," said Chae Lee, Chief Executive Officer of Magnachip.

Chris Allexandre, President and Chief Executive Officer of Navitas, said the investment "further aligns our interests and reflects our shared belief that the combination of our complementary technologies can create new opportunities across high-voltage and ultra-high-voltage applications."

Magnachip said it will file a Current Report on Form 8-K with the U.S. Securities and Exchange Commission containing additional details on the transaction.

You May Also Be Interested In

• Amentum JV chosen as preferred supplier for $2.78B UK nuclear deal
• AstraBit adds two advisors with digital asset and trading backgrounds
• AstraBit adds two advisors with digital asset and trading backgrounds