MagnaChip agrees deal to buy IGBT firm for electric vehicles

MagnaChip Semiconductor has agreed to acquire Dawin Electronics Co, a South Korea-based manufacturer of insulated gate bipolar transistor (IGBT), fast recovery diode and mosfet modules.

Recently IGBTs have become important components in the design of electric vehicles and hybrid cars.

“This allows us to continue to diversify and expand our fast-growing power solutions business into the commercial and industrial segments,” said Sang Park, MagnaChip’s Chairman and CEO.

“Dawin’s high-power modules will enable MagnaChip to compete quickly and effectively in the high-growth IGBT market with a broader portfolio of power solutions for our customers,” said Park.

According to market research firm IHS iSuppli, the total IGBT market in 2011 was estimated to be $4.1bn and is expected to grow at a compounded annual growth rate of 10% from 2011 to 2015.

The IGBT is used in a broad range of medium- to high-power commercial and industrial applications and in many consumer appliances such as variable speed refrigerators, air-conditioners and stereo systems.

Terms of the deal were not disclosed.

MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductors.