Plano-based Diodes Incorporated announced its plans to acquire ElevATE Semiconductor Inc. for $250 million.
ElevATE is a fabless semiconductor company based in San Diego. Its focus is on designing low-power, high-density integrated circuits for the automated test equipment industry, known as ATE. Chipmakers use ATE to test semiconductors during production, so demand for this type of integrated circuit, or IC, has been booming.
“The explosive growth, increasing complexity and higher performance requirements of ICs used in automotive, industrial, data center and AI applications are driving greater semiconductor production volumes, and in turn, increasing demand for automated test equipment,” Diodes President and CEO Gary Yu said in a statement announcing the definitive agreement…