Semiconductor packaging and testing manufacturer ASE Investment Holdings announced today that it has acquired two back-end packaging and testing plants of chip manufacturer Infineon in the Philippines and South Korea to expand the packaging and testing of power chip modules and lead frame packaging for automotive and industrial automation applications, with an investment of more than NT$2.1 billion, and the transaction will be completed by the end of the second quarter of this year at the earliest.
Infineon and ASE Investment Control announced simultaneously in the afternoon that Infineon will give ASE Semiconductor two back-end packaging and testing plants in C**ITE City in the Philippines and Cheonan City in South Korea.
Among them, Infineon Technologies Manufacturing Ltd., located in Cavity City, Philippines, and ASE Semiconductor through the acquisition of the upper holding company (Cypress Manufacturing, Ltd.).100% of the common stock was acquired, and the transaction value was approximately 3,89980,000 euros (about NT$13.)200 million yuan).
Infineon Technologies Power Semitech Co., Ltd. is located in Cheonan, South Korea, ltd., ASE Korea subsidiary with about 235910,000 euros (about NT$7.)9.8 billion yuan), and the two transactions are expected to be completed by the end of the second quarter of this year at the earliest.
Infineon acquired Cypress Semiconductor Technology in 2019, and according to the announcement, ASE Semiconductor acquired Cypress Manufacturing, Ltd100% common stock, trading counterparty Cypress Semiconductor.
ASE Investment Holdings explained that the two transactions can increase ASE semiconductor production capacity and meet Infineon's follow-up order needs. Infineon noted that through this transaction, Infineon and ASE continue their long-term cooperation.
Wu Tianyu, Chief Operating Officer of ASE Investment Holdings, said that the automotive and power management chip market is the strategic focus of the investment control layout, and the acquisition of Infineon's two packaging and testing plants in the Philippines and South Korea represents the determination of ASE Investment Holdings to continue the long-term strategic partnership with Infineon.
Infineon has 300 employees at its South Korea and more than 900 at its Philippines plant, and ASE Investment Holdings said that employees at the two local plants will continue to be retained.
Industry insiders pointed out that Infineon's packaging and testing base in South Korea mainly focuses on the packaging and testing of power chip modules, and the application fields include home, industrial automation and automotive fields; The Philippine packaging and testing plant mainly lays out the lead frame packaging production line, locking in automotive, industrial control and general applications.
In addition, ASE Investment Holding announced today that the board of directors of its subsidiary ASE Semiconductor decided to stop the public offering, mainly considering the overall business plan of the group, and applied to the Financial Regulatory Commission to stop the public offering in accordance with the law.