Diodes Completes Deal to Acquire FabTech

Diodes Inc. in Westlake Village, a manufacturer of semiconductors for the communications, computing, electronics and automotive industries, has completed the acquisition of FabTech Inc., a 5-inch-wafer foundry specializing in Schottky products.

FabTech, based in Lee’s Summit, Mo., operates out of a 70,000-square-foot, state-of-the-art manufacturing facility. FabTech has eight patents pending.

Diodes officials said the acquisition of FabTech will enable the company to intensify its research and development efforts.

FabTech was acquired from Lite-On Power Semiconductor Corp. for approximately $25 million, which includes the assumption of about $19 million in debt and a cash payment of $6 million. Lite-On Power, which is part of the $4.5-billion Lite-On Group, owns approximately 38% of Diodes’ outstanding shares.