ASE Technology Holding: USI completes acquisition of Asteelflash

According to Taiwan media China Times Electronic News, packaging and testing leader ASE Technology Holding announced yesterday that its electronic manufacturing services (EMS) manufacturer Universal Scientific Industrial Co., Ltd. has completed the acquisition of shares in French company Financiere AFG (FAFG) and acquired all the shares of its subsidiary, Asteelflash Group, the second largest EMS company in Europe. In the future, the two parties will integrate global production bases and technical capabilities to seize early niche product business opportunities.

ASE Technology Holding announced in mid-December last year that USI intends to acquire all the shares of FAFG, the parent company of Asteeflash Group, with 89.6% paid in cash and 10.4% paid in stock. After obtaining approval from the competent authorities in the European Union, the United States, mainland China, and Taiwan, the total consideration paid on the 1st was approximately US$421 million (approximately NT$11.938 billion).

USI said that through this acquisition, it will become a company with 27 production bases in 10 countries (including regions) around the world, more than 24,000 employees, and revenue of more than US$7 billion. After the acquisition, Asteelflash's existing management team will remain in office and quickly share experience in sales, supply chain management and technology, and implement collaborative development plans.

USI pointed out that the two parties will integrate global production bases and technical capabilities and jointly focus on new terminal markets and customers. This acquisition will help the company quickly improve its overseas production bases and operation systems to serve the needs of the European and American markets under the general trend of global supply chain restructuring, and occupy a favorable competitive position in the global changes.