Jan. 24, 2002 – Chandler, AZ – Amkor Technology Inc. has signed a definitive agreement to acquire the semiconductor assembly business of Citizen Watch Co., Ltd.
Citizen’s assembly operations are located in Kitakami/Iwate Japan, in close proximity to the Amkor Iwate assembly factory.
The acquisition should be completed at the end of January, subject to regulatory approval in Japan. Transaction terms were not disclosed, but will involve an initial cash payment to Citizen, plus additional payments to be determined by revenue streams over the next two years.
Citizen’s assembly business operates as a third party subcontractor, providing advanced IC packaging for a broad range of Japanese semiconductor companies. Citizen also has a portfolio of packaging IP, specifically regarding BGA packaging technology. Amkor will acquire the assembly operations and Citizen’s IC packaging IP. In connection with the acquisition, Amkor expects to hire approximately 83 employees from Citizen’s assembly operations.