TAIPEI, Taiwan – arQana Technologies ("arQana") and Hon Hai Technology Group, ("Foxconn") (TWSE: 2317) today announced the completion of the acquisition of arQana's Wireless Telecommunications business, and its merge with AchernarTek Inc. ("AchernarTek"), to enable the birth of a global RF semiconductor component supplier, with the intent to support Foxconn and third-party customers in the Wireless Telecommunications markets, including applications in Automotive and 5G Infrastructure.
This business transaction is a positive accomplishment for all the parties involved. It enables arQana Taiwan, arQana Belgium, and AchernarTek not only to continue developing their high-performance products for Wireless Telecommunications Infrastructure, enhancing further 5G Sub-6 GHz and mmWave product developments, but also expanding company footprints in the growing Connected Cars and Electric Vehicle (EV) market.
"Foxconn is a company that shares our vision to be the brightest star in the 5G universe. This acquisition benefits enormously our customers, accelerating our product introductions, shortening components' time to market, and helping the future growth of the business. We look forward to benefiting the whole 5G infrastructure industry with the adoption of our components and products" said Glenn Vandevoorde, CEO of iCana and former CEO of arQana. "With the support of Foxconn, we will continue to use our expertise to create new products and penetrate new markets to cover the semiconductor needs of multiple industries, starting with semiconductor components for Electric Vehicles. Being part of the Foxconn family will also boost our ability to innovate faster, navigate the challenges, and capitalize on the opportunities of this decade"
AchernarTek, arQana Taiwan, and arQana Belgium will now unify their operations and expertise under the new brand name "iCana". The acquisition will leverage Foxconn's current development capabilities and strengthen the supply chain in the semiconductor industry as well. Under the Foxconn umbrella, iCana can share Foxconn's new expertise and novel solutions, which will enable iCana to meet the growing market demand of 5G Connected Electric Vehicles.
In line with Foxconn's 3+3 strategy (EVs, Smart healthcare, and Robotics with three key technologies – new-generation communications technology, AI, and semiconductors) the acquisition of arQana Technologies' 5G business and merger with AchernarTek is another step in Foxconn's long-term commitment to semiconductor development. RF semiconductors are fundamental components for connectivity in EVs: while countries across the world deploy and adopt 5G networks, new modern cars will also require new RF components to communicate with these new networks.
Today's announcement marks another example of the strong commitment of Foxconn to extend its capabilities in electric vehicle manufacturing and semiconductors design and supply excellence.