(October 12, 2010 – BusinessWorld Online) — The AYALA group’s electronics unit, listed Integrated Microelectronics Inc. (IMI), has completed its $30-million acquisition of PSi Technologies, Inc.
The deal made IMI and partner Narra Venture Capital II, a private investment firm that buys into technology companies in Silicon Valley, the majority shareholders in the independent semiconductor assembly and test-service company.
"The acquisition of PSi gives us a foothold in the growing convergence of power semiconductor assembly and test services and electronics manufacturing services," IMI president and chief executive Arthur R. Tan said in a disclosure.
"With a complementary capability to change the process of how a power semiconductor is built, we can now offer original equipment manufacturers (OEMs) an optimized power solution in a multichip module that combines the manufacturing expertise of IMI and PSi Technologies," Tan added.
IMI wants to open a manufacturing plant in Europe through an acquisition. IMI’s current European presence is only through an office in Germany that is said to account for some 23% of the company’s yearly sales.
Last month, the electronics manufacturing firm raised its authorized capital stock to P3.75 billion from P3 billion. IMI’s sales grew by 11% to $188.8 million in the first half but profits fell by a fifth to $4.7 million.
Shares in IMI dropped by 1.85% or P0.20 to close at P10.60 each yesterday.
Integrated Micro-Electronics Inc. (IMI) is a vertically integrated electronics manufacturing services (EMS) provider to leading global OEMs in diversified markets including automotive, industrial, medical, solar energy, telecommunications infrastructure, storage device, and consumer electronics industries.For more information, visit www.global-imi.com.
Narra Venture Capital (NarraVC) is a venture capital investment group that manages funds of Limited Partners such as Dado Banatao, Ayala Corporation, First Philippine Holdings and the Cebuana Lhuillier Group with Dr. Paco Sandejas as its Managing Partner. More on NarraVC on www.narravc.com.
PSi Technologies is a power semiconductor assembly and test services (SATS) company serving niche markets in the global power semiconductor market. It provides comprehensive package design, assembly and test services for power semiconductors used in various electronic devices. More about PSi Technologies on www.psitechnologies.com.
Subscribe to Solid State Technology/Advanced Packaging.
Follow Advanced Packaging on Twitter.com by clicking www.twitter.com/advpackaging. Or join our Facebook group
Being the major shareholder, IMI is expected to be able to provide its partners access to a whole suite of skills and networks in order to help them achieve and exceed company targets. How can one create a unique value-add extends past the operations level? Like how http://www.iccpventurepartners.com/ approaches, the successful implementation of a strategy in prior funds has resulted in long-running and transpacific supply chain partnerships between select portfolio companies.