Allegro MicroSystems announced that Polar Semiconductor, a company jointly-owned by Allegro and Sanken Electric, is expected to receive a $150 million equity investment from an affiliate of One Equity Partners to expand 200 millimeter sensor and high voltage power wafer capacity at its fabrication facility in Bloomington, Minnesota. In conjunction with this investment, Polar is also pursuing U.S. CHIPS Act funding to further invest in its capacity and cost leadership initiatives to supply sensor and high voltage power wafers for critical automotive and industrial applications. The transaction is expected to close in the first quarter of Allegro’s 2024 fiscal year.
Published first on TheFly
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