Magnachip’s $5 Million Milestone: Navitas Deepens Strategic SiC Ties

Magnachip Semiconductor Corporation, a leading designer and manufacturer of analog and mixed-signal power semiconductor solutions has announced that Navitas Semiconductor Corporation will make a $5 million strategic equity investment in the company.

Under a privately negotiated stock purchase agreement, Magnachip will issue and sell 1,461,988 shares of common stock to Navitas at a price of $3.42 per share. The transaction is expected to generate gross proceeds of approximately $5 million and close on or about 24th September, 2026, subject to customary closing conditions, including their satisfaction or waiver.

The investment further strengthens the growing strategic partnership between Magnachip and Navitas, following their July 2026 announcement to accelerate the adoption of silicon carbide technologies across high-voltage and ultra-high-voltage power markets.

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Under the partnership, Magnachip is licensing Navitas’ GeneSiC Trench-Assisted Planar technology for applications ranging from 1,200 V to 3,300 V and beyond. Magnachip will also gain access to Navitas’ silicon carbide supply chain and materials ecosystem, with plans to transfer, qualify and eventually manufacture the technology internally at its fabrication facility in South Korea.

The agreement also provides a foundation for broader technology and product collaboration beyond the initial GeneSiC licensing arrangement. The companies will initially focus on applications in energy and grid infrastructure, energy storage, industrial electrification, automotive systems and other high-power markets.

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“Navitas’ investment represents an important next step in our strategic partnership and demonstrates a shared commitment to the opportunities we are pursuing together,” said Chae Lee, Chief Executive Officer of Magnachip. “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. More importantly, we believe the combination of Navitas’ SiC technology with Magnachip’s silicon power technologies and manufacturing capabilities creates opportunities to develop a new generation of differentiated power solutions that address emerging customer needs that we believe are not adequately served by products available today. We look forward to deepening our collaboration as we execute our long-term growth strategy.”

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“Magnachip is an important strategic partner for Navitas, and this investment reflects our confidence in the relationship and the value we believe the two companies can create together in the years ahead,” said Chris Allexandre, President and Chief Executive Officer of Navitas. “Our initial technology and licensing collaboration established a strong foundation. This 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. We look forward to working closely with Magnachip to expand the adoption of advanced GeneSiC technologies and explore opportunities for broader technology and product collaboration.”