Related Party Transactions

12 Months Ended

Dec. 29, 2018

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

As a result of the Company’s acquisition of IXYS, the Company has equity ownerships in various investments that are accounted for under the equity method. The following is a description of the investments and related party transactions.

Powersem GmbH: The Company owns 45% of the outstanding equity of Powersem GmbH (“Powersem”), a module manufacturer based in Germany. For the year ended December 29, 2018, the Company recorded revenues of $0.7 million from sales of products to Powersem for use as components in their products. For the fiscal year ended December 29, 2018, the Company purchased $4.5 million of products from Powersem. At December 29, 2018, the trade receivable balance from Powersem was $0.1 million and the accounts payable balance to Powersem was $0.2 million.

EB Tech Ltd.: The Company owns approximately 20% of the outstanding equity of EB Tech Ltd. (“EB Tech”), a company with expertise in radiation technology based in South Korea. For the year ended December 29, 2018, EB Tech rendered processing services for the Company totaling $0.5 million. As of December 29, 2018, the Company’s accounts payable balance to EB Tech was $0.1 million.

Automated Technology, Inc.: The Company owns approximately 24% of the outstanding common shares of Automated Technology, Inc. (“ATEC”), a supplier located in the Philippines that provides assembly and test services. For the year ended December 29, 2018, ATEC rendered assembly and test services to the Company totaling $9.9 million. As of December 29, 2018, the Company’s accounts payable balance to ATEC was $0.5 million.