Magnachip Announces Strategic Investment by Navitas Semiconductor
Investment deepens strategic partnership and supports development of differentiated next-generation power semiconductor solutions
SEOUL, South Korea, September 21, 2026--Magnachip Semiconductor Corporation (NYSE: MX) ("Magnachip" or the "Company"), a designer and manufacturer of analog and mixed-signal power semiconductor platform solutions, today announced that Navitas Semiconductor Corporation (Nasdaq: NVTS) ("Navitas") has agreed to make a $5 million strategic equity investment in Magnachip.
Under the terms of a privately negotiated stock purchase agreement, Magnachip will issue and sell 1,461,988 shares of its common stock to Navitas at a purchase price of $3.42 per share, for aggregate proceeds of $5 million. The transaction is expected to close on or about September 24, 2026, subject to the satisfaction or waiver of customary closing conditions.
The investment builds on the growing strategic partnership between Magnachip and Navitas following the announcement in July 2026 to accelerate the adoption of silicon carbide technologies in high-voltage and ultra-high-voltage power markets.
Under that partnership, Magnachip is licensing Navitas' GeneSiC™ Trench-Assisted Planar™ technology covering 1,200 V, 2,300 V, 3,300 V and higher-voltage applications. Magnachip is also gaining access to Navitas' SiC supply chain and materials ecosystem, with plans to port, qualify and internalize the technology at Magnachip's fabrication facility in South Korea. The partnership also creates opportunities for broader technology and product collaboration beyond the initial GeneSiC licensing agreement. The companies are initially targeting applications including energy and grid infrastructure, energy storage, industrial electrification, automotive and other high-power systems.
"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."