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Semiconductor solution provider MagnaChip Semiconductor Corporation has announced that its wholly-owned subsidiaries have entered into a definitive agreement to sell the Company’s Foundry Services Group and the factory in Cheongju (Fab 4) for $435 million to Alchemist Consortium.

The special purpose company based in South Korea established by Alchemist Capital Partners Korea Co., Ltd. and Credian Partners, Inc. will acquire MagnaChip’s assets. The transaction is subject to a customary working capital adjustment.

In April 2019, MagnaChip Semiconductor announced a partnership with Melfas Inc., a leading provider of proven touch controller ICs and touch screen / touch key modules based on capacitive touch sensing technologies, to develop advanced OLED display capabilities for the automotive and consumer electronics sectors.

About MagnaChip Semiconductor

MagnaChip Semiconductor Corporation, headquartered in Cheongju-si, South Korea, is a leading designer and manufacturer of analog and mixed-signal semiconductor products. The company provides semiconductor platforms for IoT, communications, consumer, industrial and automotive applications. The company owns a portfolio of more than 2,950 registered patents and pending applications, and has extensive engineering, design and manufacturing process expertise. MagnaChip is the one of the largest independent supplier of organic light emitting diodes (OLED) display driver integrated circuits (DDICs) to the world’s top two panel manufacturers for smartphones.

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