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UTAC to acquire Bangkok-based SATS provider

Posted: 25 Apr 2006 ?? ?Print Version ?Bookmark and Share

Keywords:United Test and Assembly Center? UTAC? semiconductor? assembly? test service?

United Test and Assembly Center Ltd (UTAC), a Singaporean semiconductor assembly and test services (SATS) provider, has announced its plan to acquire NS Electronics Bangkok Ltd (NSEB), a full turnkey SATS provider, in an all-cash transaction amounting up to $175 million for a 100 percent stake.

UTAC has agreed to acquire a 68.45 percent controlling stake of NSEB from UBS Capital. The agreement is conditional upon, among others, UTAC successfully acquiring at least another 16.55 percent of NSEB from the remaining shareholders at the same price per share.

NSEB has more than 30 years' experience in assembling and testing semiconductor devices for consumer, communications, computing and automotive applications. Its customers include Texas Instruments, Maxim Integrated Products, Linear Technology and Samsung. It operates two facilities in Thailand and a sales office in the United States.

"NSEB will offer us an exciting strategic opportunity to strengthen our global industry leadership by expanding our capacity and capabilities in an earnings-accretive manner, widening our customer base, and strengthening our assembly business, all in a relatively short time," said UTAC Group President and CEO Lee Joon Chung in a statement.

The proposed acquisition is expected to be completed by June 2006. Once the transaction is closed, UTAC will have manufacturing operations in four countries: Singapore, China, Taiwan and Thailand.

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