Malaysian company buys Atlantic
The total consideration for the sale is $18mn. In part payment, Unisem is to issue 4.69mn new shares worth $12mn. The remainder will be in cash.
Atlantic's existing customer base includes European integrated device manufacturers (IDMs) and fabless design houses. Atlantic's operations in Wales will continue to focus on higher end assembly and test services as well as the development of advanced test solutions.
The acquisition of Atlantic is expected to be completed by April 2004 subject to approvals from Unisem's shareholders, governments, Bank Negara Malaysia, the local Foreign Investment Committee and Kuala Lumpur Stock Exchange.
Unisem was incorporated in 1989 and commenced operations in 1992 as an independent IC packaging and test house. The company’s main production base is in Ipoh, Malaysia. Unisem provides full turnkey solutions to its customers in wafer probing, packaging and testing of ICs, tape and reel and dropship services. Unisem has a current staff strength of 3200.
