HEXA CREATION acquired by XMAX

XMax signed a definitive share purchase agreement on 5 October 2026, announced four days later, to acquire 100% of Hexa Creation, the US developer of 1200V vertical gallium nitride power semiconductor technology, at an enterprise value of . The sellers were Professor Yuji Zhao, founder and chief executive of Hexa Creation, and Skysong Innovations, the technology transfer arm through which the underlying university patents are licensed. The consideration combined a payment at closing, net of a deposit already made, a payment to Skysong, and deferred amounts due by the end of 2027, with XMax barred from transferring or pledging the Hexa Creation shares until those were settled. XMax also agreed to pay Skysong a change-of-control fee equal to 5% of the purchase price within 30 days of closing. The purchase took XMax, until then a furniture distributor that had moved into artificial intelligence software, into the hardware that powers AI computing. It was betting on the shift of data centres towards higher-voltage architectures, including emerging 800VDC systems, where 1200V-class devices become relevant, alongside electric vehicles, energy storage and ultra-fast charging