Presidio Investors Announces Sale of ElevATE Semiconductor to Diodes Incorporated

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Sale to Nasdaq-listed strategic acquirer marks successful realization of Presidio's first continuation fund AUSTIN, Texas, July 14, 2026 --( BUSINESS WIRE )--Presidio Investors ("Presidio"), a lower middle market private equity firm, today announced that it has entered into a definitive agreement to sell ElevATE Semiconductor, Inc. ("ElevATE") to Diodes Incorporated (Nasdaq: DIOD) in an all-cash transaction valued at $250 million. ElevATE, headquartered in San Diego, California, is a leading fabless designer of low-power, high-density integrated circuits for the automated test equipment (ATE) industry. The sale marks the successful realization of Presidio's first continuation fund, which was formed in 2023 to extend the firm's partnership with ElevATE and support the company's 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's investors. Presidio 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 — with Managing Partner Christian Puscasiu and Partner Josef Auboeck serving on ElevATE's board of directors — 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's integrated circuits address the industry's 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. "This is a proud day for everyone who has been part of the ElevATE journey," said Christian Puscasiu, Managing Partner of Presidio Investors. "When we partnered with ElevATE's 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 — 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."

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