Notice of ownership transfer of a consolidated subsidiary, TEL NEXX, Inc.
Tokyo and Singapore, April 4, 2018 - Tokyo Electron (“TEL”) has announced that TEL concluded a purchase agreement with ASM Pacific Technology Ltd. (“ASMPT”), a world leader in the supply of semiconductor assembly and packaging equipment and materials, as well as surface mount technology applications, for ownership of TEL NEXX, Inc. (“NEXX”), a consolidated subsidiary of TEL. The Boards of Directors of both companies have approved the transaction. The closing of the transaction is pending approval and review by regulators. The companies expect the transaction to close in late 2018.
Toshiki Kawai, President and CEO of TEL, said, "ASMPT offers an exciting opportunity for NEXX to boost and expand its product offerings in advanced wafer level packaging, ECD and PVD. TEL believes that NEXX will benefit from greater synergies with ASMPT’s outsourced assembly and test customers."
ASMPT’s CEO Mr Lee Wai Kwong also commented, "This strategic acquisition complements our current offerings in Advanced Packaging applications and establishes ASMPT as a premier Interconnect Technology company, while supporting our commitment in driving innovation and delivering the highest value and innovative solutions to our customers. By combining NEXX’s highly specialized ECD and PVD technologies, we see tremendous opportunity to grow our business in the Advanced Packaging market which is being driven by the dawn of the Data-Centric era."
"With the demand for semiconductor devices at a historical high, we are looking forward to an increased global customer footprint with ASMPT, as well as expanded sales and service capabilities for our customers”, explains Tom Walsh, President of NEXX.
Regarding to the impact of this matter on the company’s consolidated financial results, TEL is currently investigating the financial forecasts for the fiscal year ending March 31, 2019. If any significant effects on business forecasts are likely, TEL will make a timely disclosure.
About NEXX
Business focus; advanced deposition equipment for wafer level packaging, ECD and PVD
Headquarters; Billerica, MA, USA
Employees; 117（as of March 1, 2018）
The NEXX Business was founded in 2001 and has developed electrochemical deposition (ECD) and physical vapor deposition (PVD) processes supplying the Advanced Packaging markets. TEL acquired NEXX Business in 2012 and NEXX became a wholly-owned direct subsidiary of Tokyo Electron U.S. Holdings, Inc.
About ASMPT
Business focus; leading edge solutions and materials for semiconductor assembly and packaging industries, and surface mount technology applications.
Headquarters; Singapore
Employees; 16,400 (as of end Year 2017)
Sales; 2.25 billion US dollars (Year 2017)
As a global technology and market leader, ASMPT (HKEX stock code: 0522), develops and provides leading edge solutions and materials for the semiconductor assembly and packaging industries. Its surface mount technology solutions are deployed in a wide range of end-user markets including electronics, mobile communications, automotive, industrial, LED and alternative energy.
Listed on the Hong Kong Stock Exchange since 1989, ASMPT is currently one of the constituent stocks on the Hang Seng Composite MidCap Index under the Hang Seng Composite Size Indexes, the Hang Seng Composite Information Technology Industry Index under Hang Seng Composite Industry Indexes, the Hang Seng Hong Kong 35 Index and the Hang Seng Global Composite Index. To learn more about ASMPT, please visit its website at www.asmpacific.com.
