Belgian GaN Chipmaker BelGaN May Be Acquired by Mystery European Buyer
Belgium-based GaN (gallium nitride) semiconductor manufacturer BelGaN is reportedly the target of a major acquisition, with a new and unidentified European investor expected to make a bid worth €200 million to €250 million. The prospective buyer is also planning to pivot part of the company’s operations toward silicon photonics chip production, aiming to tap into the fast-growing demand for optical communication solutions in data centers and AI infrastructure.
Belgium-based GaN (gallium nitride) semiconductor manufacturer BelGaN is reportedly the target of a major acquisition, with a new and unidentified European investor expected to make a bid worth €200 million to €250 million. The prospective buyer is also planning to pivot part of the company’s operations toward silicon photonics chip production, aiming to tap into the fast-growing demand for optical communication solutions in data centers and AI infrastructure.
Unlike previous bidders — which included a Swedish-Finnish investment consortium and a Belgian investor group — the new contender is said to have proposed a more competitive and attractive offer, boosting the likelihood of a deal being finalized.
BelGaN: A Factory with Deep Industry Roots
BelGaN’s origins trace back to 1983, when it was founded as MIETEC. Over the years, the facility changed hands multiple times — through Alcatel, AMI Semiconductor, and ON Semiconductor. In 2022, it was acquired by Rockley Management (Hong Kong) and Wuxi Group, and subsequently transformed into a GaN foundry specializing in advanced power semiconductors.
Located in Oudenaarde, Belgium, the site spans 440,000 square meters and includes a 4,300-square-meter cleanroom equipped with 250 pieces of manufacturing equipment. Notably, 80% of the equipment can be upgraded to 8-inch production lines, and the facility currently has a monthly output capacity of 19,000 6-inch GaN wafers. As one of the few European GaN foundries certified for automotive-grade production, BelGaN holds a strong technological edge.
Bankruptcy and a New Opportunity
Despite its strengths, BelGaN filed for bankruptcy in July 2024 due to a cash flow crisis, placing 440 employees at risk. This led to a flurry of acquisition interest, including bids from 7 Semiconductors Oy (Finland), China's Sai Microelectronics, and a Belgian-led consortium backed by Guido Dumarey.
According to industry sources, if the new acquisition proceeds, the incoming investor plans to retain the GaN foundry operations while expanding into silicon photonics, targeting the optical chip market — a sector that’s rapidly growing amid the surge in AI and cloud computing.
This strategic shift could position BelGaN as a key player in filling Europe’s gap in the photonic chip supply chain, bolstering the continent’s push for semiconductor sovereignty and high-tech competitiveness.
