CLIMBING HIGHER: Asteelflash could leverage Universal Scientific’s global scale of operations and manufacturing to take larger orders from major clients, the firm said

Taipei Times
Date: Dec 13, 2019
By: Lisa Wang  /  Staff reporter

ASE Technology Holding Co (日月光投控) yesterday said it would enter into an equity acquisition agreement with Financiere AFG SAS to fully acquire Europe’s second-largest electronics manufacturing service (EMS) provider, Asteelflash Group, indirectly for US$450 million to broaden its product offerings and global footprint.

Financiere AFG holds a 100 percent stake in Asteelflash.

The acquisition is to be made through ASE Technology’s EMS subsidiary, Universal Scientific Industrial (Shanghai) Co Ltd (環旭), the world’s biggest chip packager and tester said.

ASE Technology said it would pay 89.6 percent in cash and 10.4 percent through a share swap of new Universal Scientific shares.    [FULL  STORY]