German engineering and technology firm Bosch has announced its intent to acquire US-based chipmaker TSI Semiconductors and invest $1.5 billion over the next few years to tap the rising demand for chips globally, especially in the automotive and electronics sector.
“With the acquisition of TSI Semiconductors, we are establishing manufacturing capacity for silicon carbide (SiC) chips in an important sales market while also increasing our semiconductor manufacturing, globally,” Stefan Hartung, chairman of the Bosch board of management, said in a statement.
Neither of the companies disclosed the cost of acquisition or the terms.
