| ASE to Buy USI in $570M Deal |
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| Written by Chelsey Drysdale | |||
| Friday, 20 November 2009 15:23 | |||
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TAIPEI – Advanced Semiconductor Engineering agreed to purchase Universal Scientific Industrial Co. in a deal valued at more than $571 million. ASE, the world's largest packager and tester of chips, plans to use the acquisition of USI to expand into products used in mobile devices, lessening its reliance on PCs, the firm said. The tender offer ends Jan. 6. Cash will be funded by existing holdings and from a loan facility already available to the firm. USI is the world’s 24th largest EMS company, with EMS sales of more than $490 million last year, according to the CIRCUITS ASSEMBLY TOP 50. Year to date, it has more than $318 million in EMS sales, which make up about 25% of its overall revenue. ASE and its two subsidiaries already hold more than 18% of USI. Both companies are based in Taiwan. Ed.: Comment on this here: http://circuitsassembly.com/blog/?p=581
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| Last Updated on Monday, 23 November 2009 22:42 |
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