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Philips sells shares in GaAs IC manufacturer

Posted: 03 Jul 2007 ?? ?Print Version ?Bookmark and Share

Keywords:semiconductor wafers? GaAs technology? wireless telecom?

Royal Philips Electronics disclosed it had sold its controlling stake in Ommic S.A.S. to Financi?re Victoire SAS of France for an undisclosed amount.

Ommic develops and manufactures semiconductor wafers based on gallium arsenide (GaAs) technology for applications such as wireless telecoms infrastructure, optical networks and automotive mobile TV.

The sale of Ommic shares represents another step the company is taking to focus on its healthcare, lifestyle and technology activities supported by the Philips brand. Ommic, which employs approximately 75 people, is part of Philips' Corporate Investments portfolio and will remain based in Paris and subject to French law and governance.

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