Vishay Intertechnology, Inc. filed a Form 8-K with the SEC on November 12, 2026, disclosing that it entered into a binding term sheet with Kaynes Technology India Limited to establish a semiconductor manufacturing joint venture in India.

Key Highlights

  • Binding term sheet signed: Vishay, through a wholly-owned subsidiary, entered into the agreement with Kaynes Technology India Limited on November 12, 2026.
  • Vishay's planned investment: According to the filing, Vishay would invest $56.4 million for a 49% interest in an existing subsidiary of Kaynes Technology.
  • Majority stake retained: Kaynes Technology would retain a 51% interest in the joint venture entity.
  • Planned capabilities: The joint venture entity plans to establish captive semiconductor back-end manufacturing for Vishay, including post-fabrication wafer processing, assembly, test, and packaging, and may also provide services to third-party customers.
  • Government support application: The parties plan to file a joint application under India's recently announced India Semiconductor Mission 2.0 program.
  • Governance rights: The filing states Vishay has rights to determine certain matters, including appointment of auditors, internal controls and IT systems, selection of vendors and equipment, and approval of customers outside the Vishay group; specified reserved matters require both parties' approval.
  • Subject to conditions: The proposed transaction remains subject to the execution of definitive agreements, required approvals, and other customary closing conditions.

Vishay and Kaynes Technology Plan India Semiconductor Back-End Joint Venture

Vishay Intertechnology, Inc. (NYSE:VSH) disclosed on November 12, 2026 that it entered, through a wholly-owned subsidiary, into a binding term sheet with Kaynes Technology India Limited to form a semiconductor manufacturing joint venture in India. According to the filing, the joint venture entity plans to establish captive semiconductor back-end manufacturing capabilities for Vishay, covering post-fabrication wafer processing, assembly, test, and packaging. The entity may also provide services to third-party customers.

Under the terms described in the filing, Vishay would invest $56.4 million to acquire a 49% interest in an existing subsidiary of Kaynes Technology, while Kaynes Technology would retain a 51% interest. The filing notes that any future funding of the joint venture is expected to be made by both parties based on their respective ownership interests. Vishay disclosed that it holds rights to determine certain matters for the joint venture entity, including the appointment of auditors, internal controls and IT systems, selection of vendors and equipment, and approval of customers outside the Vishay group, while specified reserved matters require both parties' approval.

The filing also states that Vishay and Kaynes Technology plan to file a joint application to seek central and state government support under India's recently announced India Semiconductor Mission 2.0 program. The proposed transaction remains subject to the execution of definitive agreements, required approvals, and other customary closing conditions, according to the filing. The 8-K was signed by David L. Tomlinson, Senior Vice President and Chief Accounting Officer of Vishay Intertechnology, Inc.

What Was Disclosed

Vishay Intertechnology filed an 8-K on November 12, 2026 disclosing a binding term sheet to form a semiconductor back-end manufacturing joint venture in India with Kaynes Technology India Limited, with Vishay planning to invest $56.4 million for a 49% stake. The transaction remains subject to definitive agreements and required approvals.