MIG sells Siltectra to trade for €124m

Unquote understands that MIG has backed Siltectra in several funding rounds since 2010 by deploying capital from its MIG 9, MIG 10, MIG 12, MIG 13 and MIG 15 funds, investing a total of €12.6m. Prior to the sale, the venture capital firm controlled an 83.3% stake in the business.

In addition to MIG's holding, Infineon also bought the remaining minority stake controlled by the company's management and employees.

Following the acquisition, Infineon expects to consolidate its market position and improve the production of its portfolio of semiconductors by applying the technology developed by Siltectra.

Infineon is listed on the Frankfurt Stock Exchange and in the US on the over-the-counter market OTCQX International Premier. The company reported revenues of €7.6bn in its 2018 fiscal year.

Company
Founded in 2010 and based in Dresden, Siltectra specialises in SiC (silicon carbide) wafering technology, the process by which a silicon crystal is made into wafers, thin slices of semiconductor material used in electronics for the fabrication of integrated circuits.

The company has developed a technology called "cold split", used in chip processing for splitting crystals, including SiC, with minimal loss of raw material, reduced distortion and reduced costs. Siltectra expects to start selling its products in the first quarter of 2019.

People
MIG – Michael Motschmann (general partner).
Infineon Technologies – Reinhard Ploss (CEO).
Siltectra – Jan Richter (chief technology officer).

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• DACH
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• Germany
• Venture
• Trade sale