Powertech seeks Japan chip technology with purchases from Micron (updated)
14/04/2017 10:12
* Deals are worth up to $132 million
* Will have majority stake in Tera Probe
* Likes Japan's leading edge in IOT, vehicle electronics
(Recasts and adds chairman comments)
TAIPEI, April 14 (Reuters) - Taiwan's Powertech Technology
6239.TW said on Friday it had bought two of Micron
Technology's MU.O interests in Japan in deals worth up to $132
million, part of its efforts to expand its presence in Japanese
chip technology.
It plans to buy a near 40 percent stake in wafer testing
firm Tera Probe 6627.T , which combined with its own holding
will give it majority control of at least 51.2 percent. It has
also bought a Japanese assembly and test plant from the U.S.
firm.
"Powertech has been hoping to build a full turn-key solution
in Japan," Chairman D. K. Tsai told a news briefing.
"Although the Japanese semiconductor industry has declined,
they still have a leading edge in vehicle electronics, IOT and
other areas."
Powertech will offer to pay 1,100 yen per Tera Probe share
from Micron and any other shareholders who tender their offer.
That compares with the Japanese firm's Friday closing price of
1,198 yen.
The deals are subject to approval from Taiwan regulators.
(Reporting by Faith Hung; Editing by Edwina Gibbs)
((faith.hung@thomsonreuters.com; 8862 2500 4893; Reuters
Messaging: faith.hung.thomsonreuters.com@thomsonreuters.net))
Keywords: TERA PROBE M&A/POWERTECH TECH