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<\/a><\/a>\nThe sale marks the successful realization of Presidio\u2019s first continuation fund, which was formed in 2023 to extend the firm\u2019s partnership with ElevATE and support the company\u2019s next phase of growth. The acquisition of ElevATE by a leading global semiconductor company validates the strategy behind the continuation vehicle and delivers a strong outcome for the company, its employees, and Presidio\u2019s investors.<\/p>
\nPresidio first invested in ElevATE in 2018, when the company was a small, founder-led team of analog chip designers serving the ATE market. Over nearly eight years of partnership \u2014 with Managing Partner Christian Puscasiu and Partner Josef Auboeck serving on ElevATE\u2019s board of directors \u2014 Presidio worked alongside management to institutionalize operations, strengthen global sales channels, expand the product portfolio, and invest in the R&D capabilities that established ElevATE as a technology leader in semiconductor test. Along the way, the company adopted modern operating systems and AI-enabled tools that allowed the business to scale efficiently as demand grew. Today, ElevATE\u2019s integrated circuits address the industry\u2019s most complex ATE challenges, and demand for its solutions continues to grow with the accelerating production volumes of automotive, industrial, data center, and AI semiconductors.<\/p>
\n\u201cThis is a proud day for everyone who has been part of the ElevATE journey,\u201d said Christian Puscasiu, Managing Partner of Presidio Investors. \u201cWhen we partnered with ElevATE\u2019s founders in 2018, we saw a small team of world-class engineers with technology that punched far above its weight. The credit for what ElevATE has become belongs to its people \u2014 the founders who built the foundation, the engineers who kept pushing the technology forward, and Jan and his leadership team, who have taken the company to a new level. Diodes is an outstanding home for ElevATE, and we are grateful to the investors who backed this company alongside us at every stage.\u201d<\/p>
\n\u201cPresidio has been a true partner to ElevATE from day one,\u201d said Jan Gaudestad, Chief Executive Officer of ElevATE, who first joined the company\u2019s board of directors at the time of Presidio\u2019s 2018 investment and was appointed CEO in 2024. \u201cI have seen this partnership from both the boardroom and the CEO seat. Presidio invested in our people, our operations, and our product roadmap, and gave us the stability and resources to focus on what we do best \u2014 designing the highest density, lowest power test solutions in the industry. This acquisition by Diodes is the direct result of that partnership, and it positions ElevATE to bring our innovations to a global stage. On behalf of the entire ElevATE team, I want to thank Chris and the Presidio team for eight years of support, trust, and genuine collaboration.\u201d<\/p>
\nThe transaction has been approved by the boards of both companies and by ElevATE\u2019s stockholders, and is expected to close during the second half of 2026, subject to customary closing conditions, including regulatory approvals.<\/p>
\nBofA Securities Inc. served as exclusive financial advisor, and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. served as legal counsel to ElevATE and Presidio in connection with the transaction.<\/p>
\nAbout ElevATE Semiconductor<\/b><\/p>
\nElevATE Semiconductor, Inc. is a fabless semiconductor company headquartered in San Diego, California, specializing in the development of integrated circuits for the automated test equipment (ATE) industry. ElevATE addresses the industry\u2019s most complex ATE challenges by designing the lowest power and highest density solutions, with the goal of providing the lowest possible cost of test. For more information, please visit www.elevatesemi.com<\/a>.<\/p> \nAbout Presidio Investors<\/b><\/p> \nPresidio Investors is a leading Austin, Texas-based private equity firm investing in quality businesses in the lower middle market. Presidio makes control investments in growing, niche companies and employs a collaborative approach to help grow and develop businesses to produce excellent returns for all stakeholders. Presidio principals have decades of private equity investing and operating experience, and the firm is committed to a technology-forward approach to value creation, partnering with its portfolio companies to deploy AI and modern operating tools that drive efficiency and growth. To learn more about Presidio, please visit www.presidioinvestors.com<\/a>.<\/p>