Semiconductor components distributor WT Microelectronics Co (文曄科技) yesterday said it would acquire a 100 percent stake in Singapore-based Excelpoint Technology Ltd (世健科技) to expand its business and better serve its customers.
Excelpoint is a regional electronic components distributor providing electronic components, engineering design services and supply chain management, its Web site says.
WT Microelectronics said in a statement that it plans to buy Excelpoint shares at S$1.93 per share through its wholly owned subsidiary WT Semiconductor Pte Ltd.
Photo: CNA
The transaction, which is to cost more than S$232.2 million (US$170.22 million), is expected to occur in the third quarter after gaining approval from Excelpoint shareholders, regulatory authorities and the Singapore High Court, it said.
Excelpoint founder and CEO Albert Phuay would continue to head the firm, while reinvesting part of the cash received in the deal to acquire a 20 percent stake in WT Semiconductor, it added.
“There are strong synergies between the two companies, which believe in adding value to partners. Our complementary and enhanced product line will allow our businesses to expand,” WT Microelectronics said in the statement. “Most importantly, with the experienced teams and footprints of the two companies, customers will benefit from the extensive product solutions and technical support provided by the WT group, helping them to reach the market faster.”
WT Microelectronics reported revenue of NT$447.9 billion (US$15.4 billion) last year, up 26.83 percent from a year earlier.
Net profit was NT$7.92 billion, up from NT$3.79 billion in 2020, with earnings per share of NT$9.96, company data showed.
WT Microelectronics, which was established in 1993, partners with nearly 100 suppliers across major technology segments to serve more than 8,000 customers worldwide, it said.
Excelpoint’s revenue and profit also showed robust growth last year, with revenue increasing 44.2 percent annually to US$1.6 billion and net profit surging 137.2 percent to US$24.5 million, company data showed.
Since it was established in 1987, the Singaporean firm has built long-term relationships with major customers, such as Analog Device Inc, Qorvo Inc, Qualcomm Inc and Samsung Electronics Co, and now works closely with more than 4,000 companies.
“Combining the two companies’ established customer bases will significantly improve WT’s distribution capabilities and customer portfolios in the Asia-Pacific region,” WT Microelectronics said. “The cross-selling of various products to Excelpoint’s and WT’s customers will not only realize potential synergies for the enlarged WT group, but also create further demand opportunities for the suppliers.”
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