On Wednesday, Vishay Intertechnology, Inc. ( VSH ) said it has completed the acquisition of Nexperia’s wafer fabrication facility and operations located in Newport, South Wales, U.K., for approximately $177 million in cash.

The deal was announced on November 8, 2023; since then, the company’s shares have soared almost 3%.

To facilitate the transaction, Vishay purchased a 100% stake in Neptune 6 Limited and its wholly-owned subsidiary, Nexperia Newport Limited, the owner and operator of the Newport facility. 

Neptune 6 Limited will be renamed “Vishay UK Holdings Limited,” and Nexperia Newport Limited will be renamed “Vishay Newport Limited.”

Situated on 28 acres, the Newport wafer fab is an automotive-certified semiconductor facility capable of producing over 30,000 wafers monthly on its 200mm wafer line.

The fab is the U.K.’s largest semiconductor facility, boasting a rich heritage of supplying components to automotive and industrial sectors. 

Vishay said in a press release that it intends to transform it into a manufacturing excellence center, prioritizing decarbonization and electrification for a Net Zero future.

Joining the Compound Semiconductor Cluster in South Wales, the company added that it is aiming to partner with local universities and organizations to bolster its research and development initiatives focused on power compound semiconductors.

“The goal is to prepare Vishay to capitalize on the megatrends of e-mobility, sustainability, and connectivity,” said Marc Zandman, Executive Chairman of the Board.

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Price Action: VSH shares closed flat at $22.85 on Tuesday.