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STMicroelectronics To Buy Majority Stake In Gallium Nitride Innovator Exagan

STMicroelectronics (STM) said it has signed an agreement to acquire a majority stake in French Gallium Nitride innovator Exagan. Terms of the transaction were not disclosed.

As per the deal, STMicroelectronics could acquire the remaining minority stake in Exagan 24 months after the closing of the acquisition of the majority stake. The transaction is funded with available cash.

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