Magna Announces Strategic Investment from Navitas Semiconductor

Magna Semiconductor Co., Ltd. (hereinafter referred to as “Magna”) (NYSE: MX) announced today that Navitas Semiconductor Corporation (NASDAQ: NVTS, hereinafter referred to as “Navitas”) has agreed to make a strategic equity investment of US$5 million in Magna.

Under the terms of the stock purchase agreement executed by the parties through confidential negotiations, Magna will issue and sell 1,461,988 shares of common stock to Navitas at a price of $3.42 per share, for total proceeds of $5.0 million. Subject to the satisfaction or waiver of customary closing conditions, the transaction is expected to close around September 24, 2026.

This investment builds on the two parties’ deepening strategic partnership. Earlier, in July 2026, they announced that they would accelerate the deployment of silicon carbide (SiC) technology in the high‑voltage and ultra‑high‑voltage power markets.

Under this partnership, Magna will obtain a license to Navitas’ GeneSiC™ Trench-Assisted Planar™ technology, which covers applications at 1,200 V, 2,300 V, 3,300 V, and higher voltage levels. In addition, Magna will gain access to Navitas’ silicon carbide (SiC) supply chain and materials ecosystem, and plans to complete the technology’s porting, validation, and localization at its wafer fab in South Korea. This collaboration will also create opportunities for broader technical and product‑level cooperation between the two parties, building on the initial GeneSiC licensing agreement. The initial target application areas include energy and grid infrastructure, energy storage systems (ESS), industrial electrification, automotive, and other high‑power systems.

Chae Lee, CEO of Magna, stated: “Navitas’ investment marks a significant step forward in our strategic partnership and underscores both companies’ unwavering commitment to jointly advancing business opportunities.” He added: “By combining Navitas’ proven GeneSiC technology and materials ecosystem with Magna’s expertise in power semiconductors, manufacturing capabilities, and customer relationships, we are confident that this collaboration will accelerate our entry into the attractive high‑voltage and ultra‑high‑voltage markets. More importantly, we believe that integrating Navitas’ SiC technology with Magna’s silicon‑based power semiconductor technologies and production capacity will open up opportunities to develop next‑generation, differentiated power solutions, thereby addressing emerging customer needs that our existing products have yet to fully meet.” He concluded: “We look forward to further deepening our cooperation with Navitas as we advance our long-term growth strategy.”

Chris Allexandre, President and CEO of Navitas, stated: “Magna is a key strategic partner for Navitas. This investment underscores our confidence in our collaborative relationship and our unwavering belief in the value we can co‑create going forward.” He added: “Our initial technology and licensing partnership has already laid a solid foundation. This investment further aligns our interests and reflects our shared conviction that combining our complementary technologies will unlock new business opportunities in high‑voltage and ultra‑high‑voltage applications.” He concluded: “We look forward to working closely with Magna to expand the deployment of our advanced GeneSiC technologies and explore broader opportunities for technological and product collaboration.”

Additional information regarding this transaction will be included in Magna’s forthcoming Current Report on Form 8‑K, which is expected to be filed with the U.S. Securities and Exchange Commission (SEC).

(Source: Magna Semiconductor)