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Singapore, Hong Kong, Apr 4, 2018 - (ACN Newswire) - ASM Pacific Technology Ltd. (ASMPT) has announced today that it has signed a definitive agreement with Tokyo Electron Limited (TEL) to acquire TEL NEXX, Inc. (NEXX). The deal is expected to close when approvals from the authorities have been received. The acquisition is another major step by the Group in pursuing their growth strategy of tapping onto new high growth markets and expanding their product offerings to the semiconductor advanced packaging market.
Established in 2001, NEXX is an industry leader in the Advanced Packaging market and has strong technological capabilities in the highly specialized Electrochemical Deposition (ECD) and Physical Vapor Deposition (PVD) technologies. This new business acquisition will be subsumed under the Back-End Equipment segment of ASMPT.
"This strategic acquisition complements our current offerings in Advanced Packaging applications and establishes ASMPT as a premier Interconnect Technology company, while supporting our commitment in driving innovation and delivering the highest value and innovative solutions to our customers. By combining NEXX's highly specialized ECD and PVD technologies, we see tremendous opportunity to grow our business in the Advanced Packaging market which is being driven by the dawn of the Data-Centric era." said Mr Lee Wai Kwong, CEO of ASMPT.
"ASMPT offers an exciting opportunity for NEXX to boost and expand its product offerings in advanced wafer level packaging, ECD and PVD. TEL believes that NEXX will benefit from greater synergies with ASMPT's outsourced assembly and test customers." said Toshiki Kawai, President and CEO of TEL.
"With the demand for semiconductor devices at a historical high, we are looking forward to an increased global customer footprint with ASMPT, as well as expanded sales and service capabilities for our customers", explains Tom Walsh, President of NEXX.
About ASM Pacific Technology Limited
As a global technology and market leader, ASMPT (HKEX stock code: 0522), develops and provides leading edge solutions and materials for the semiconductor assembly and packaging industries. Its surface mount technology solutions are deployed in a wide range of end-user markets including electronics, mobile communications, automotive, industrial, LED and alternative energy.
Listed on the Hong Kong Stock Exchange since 1989, ASMPT is currently one of the constituent stocks on the Hang Seng Composite MidCap Index under the Hang Seng Composite Size Indexes, the Hang Seng Composite Information Technology Industry Index under Hang Seng Composite Industry Indexes, the Hang Seng Hong Kong 35 Index and the Hang Seng Global Composite Index. To learn more about ASMPT, please visit our website at www.asmpacific.com.
About NEXX
The NEXX Business was founded in 2001 and has developed Electrochemical Deposition (ECD) and Physical Vapor Deposition (PVD) processes supplying the Advanced Packaging markets. TEL acquired NEXX Business in 2012 and NEXX became a wholly-owned direct subsidiary of Tokyo Electron U.S Holdings, Inc.
For media enquiries, please contact:
Hong Kong
Mandy Go
Strategic Financial Relations Limited
Tel: (852) 2864 4812
Email: mandy.go@sprg.com.hk
Singapore
Joey Ng
Senior Manager, Corporate Communications
Tel: (65) 6750 9567
Email: joey.ng@asmpt.com
Website: www.asmpacific.com
Topic: Press release summary
Source: ASM Pacific Technology Limited
Sectors: Daily Finance, Cloud & Enterprise, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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