Apple Assembler Foxconn Pushes Further Into EVs With M&AConsumer electronics assembly
giant Foxconn has acquired and merged a pair of component firms to boost the Taiwan-based company’s position in the competitive
electric vehicle market.Foxconn announced last week that it had acquired the wireless telecommunications business of Taiwanese fabless component supplier
Arqana Technologies and merged with California-based integrated circuit design house
AchernarTek for an undisclosed amount. Both moves will help Foxconn, founded by Taiwanese billionaire Terry Gou, and its customers develop semiconductors for the
automotive sector and 5G infrastructure, Foxconn said.
AchernarTek and Arqana’s Taiwan and Belgium units will combine, under the
name iCana.
The newly formed unit will
“create new products and penetrate new markets” for semiconductors in multiple industries,
“starting with semiconductor components for electric vehicles,” iCana CEO
Glenn Vandevoorde said in the statement.
