Power Integrations to acquire Odyssey Semiconductor Technologies to boost GaN technology

Power Integrations (NASDAQ: POWI), a leader in high-voltage integrated circuits for energy-efficient power conversion, has announced a definitive agreement to acquire the assets of Odyssey Semiconductor Technologies (OTCQB: ODII), a company specializing in the development of vertical gallium-nitride (GaN) transistor technology. This strategic acquisition, set to close in July 2024, is a significant move for Power Integrations, aiming to enhance and accelerate the development of its proprietary PowiGaN technology.

Strategic Implications of the Acquisition

Odyssey Semiconductor Technologies, known for its pioneering work in vertical GaN transistor technology, will bring a wealth of expertise to Power Integrations. All key Odyssey employees are expected to join the technology organization of Power Integrations post-acquisition, bolstering its research and development capabilities.

The integration of Odyssey’s technology and expertise is expected to advance Power Integrations’ ambitious roadmap, which includes driving cost parity with silicon MOSFETs and expanding the voltage and power capabilities of PowiGaN. This acquisition is not just a growth strategy but also a commitment to innovating in the high-current and high-voltage GaN technology space, aiming to offer higher performance at lower costs compared to silicon carbide (SiC).

Power Integrations To Expand Its GaN Technology Portfolio Through Strategic Acquisition of Odyssey Semiconductor Technologies

Dr. Radu Barsan, Vice President of Technology at Power Integrations, commented on the acquisition: “Power Integrations has been at the forefront of GaN development and commercialization since we began shipping products with PowiGaN technology in 2018. We are executing on an ambitious roadmap that includes driving toward cost parity with silicon MOSFETs and expanding the voltage and power capabilities of PowiGaN. The experience of the Odyssey team in high-current vertical GaN will augment and accelerate these efforts, and we are delighted to add them to our team.”

Dr. Richard Brown, co-founder and CEO of Odyssey, also expressed his enthusiasm for the merger, stating, “The Odyssey team and I are excited to join Power Integrations in accelerating their GaN technology roadmap. As the first company to commercialize high-voltage GaN, Power Integrations continues to lead the industry in driving the technology forward in terms of cost, voltage and current, as well as the design of system-level products that take full advantage of the capabilities of GaN.”

Future Outlook

This acquisition promises to catalyze further innovations in GaN technology, enhancing the efficiency and performance of Power Integrations’ product families such as InnoSwitch ICs, HiperPFS-5 power-factor-correction ICs, and the recently launched InnoMux-2 family of single-stage, multiple-output ICs. By integrating Odyssey’s vertical GaN technology, Power Integrations is poised to redefine the market standards for power conversion solutions.