PETALING JAYA: Key Asic Bhd is set to acquire a 100% stake of a United States foundry with silicon carbide and developing gallium nitrite technologies.

       In a statement yesterday, Key ASIC said it had issued a letter of intent (LOI), which was accepted by the US foundry.

       The firm has performed the preliminary analysis and due diligence leading to the signing of the LOI and will be conducting the necessary due diligence before signing the definitive agreement.