TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD acquired WaferTech, LLC (now TSMC Washington), a transaction completed in March 2001, structured as cash - successive purchases of joint-venture partners' interests. The deal was a Joint-venture buy-in to full ownership.
WaferTech, LLC (now TSMC Washington) operates in U.S. wafer foundry (Fab 11), is based in Camas, Washington, United States. WaferTech began in 1996 as a joint venture between TSMC and several U.S.-based investors to build and run an approximately US$1.2 billion foundry in Camas, Washington. TSMC raised its stake to 68% in December 1998, then bought out the remaining joint-venture partners to reach roughly 99% by the end of the first quarter of 2001 and effectively 100% thereafter. The entity was renamed TSMC Washington in December 2023.
Buying out the JV partners gave TSMC a wholly owned U.S. manufacturing base under its direct control.
Wholly owned subsidiary; renamed TSMC Washington (2023)
In 1996, we entered into a joint venture called WaferTech with several US-based investors to construct and operate a US$1.2 billion foundry in the United States. ... In December 1998, we purchased a part of the interest from the joint venture partners and thereby increased our percentage interest in WaferTech to 68%. By the end of the first quarter of 2001, we had increased our percentage ownership of WaferTech to approximately 99% by purchasing all of the remaining interest of all the joint venture partners.TSMC FY2003 Form 20-F, Item 4 Business
Advisory firms were not disclosed for this transaction.