Semiconductor Manufacturing International Corporation (SMIC) (00981) said it agreed to purchase 70% of the corporate capital of LFoundry S.r.l. for EUR49 million in cash.
The target company and its wholly-owned subsidiary LFoundry Japan operate in the pure play foundry business of manufacturing wafers based on customer-specific analogue, mixedsignal and specialised technology, image sensors and complementary metal-oxidesemiconductors (CMOS).