Mergers & acquisitions
With these acquisitions, Amkor gains technology for electroplated wafer bumping and turnkey wafer level chip scale packaging (CSP), together with installed and operationally qualified, high volume 200mm and 300mm electroplated wafer bumping and wafer level packaging manufacturing operations. Unitive technologies include wafer level CSP, electroplated lead-free and low alpha wafer bumping, fine pitch solder bumps, redistribution and multi-layer thin film capabilities. Unitive is currently working with more than 50 customers on nearly 200 application development projects. The combined cash purchase price is estimated at $48mn with the assumption of $23mn of debt. Amkor will pay $32mn at closing with the $16mn balance to be paid one year later. In addition, Amkor will retain a call option to acquire the remaining 40% of UST at any time over the next 18 months for TWD611mn (approximately $18mn).
The Unitive contract terms provide for a performance based earn-out that is capped at $55mn and is payable one year from closing in cash or stock at Amkor's discretion. The UST transaction also provides for a performance based earn-out that is estimated to be $2mn. The transactions are scheduled to close in August 2004, at which point Unitive and UST will become subsidiaries of Amkor.
The North Carolina facility under Amkor will offer wafer bumping, wafer level packaging and other back-end wafer level processing. In Taiwan, UST will provide electroplated wafer bumping and, through integration with Amkor's operations, a complete suite of wafer level processing, assembly and test services.
International Rectifier has completed the acquisition of the silicon epitaxial services business of ATMI (Bulletin 539, July 1, 2004). The acquisition had been previously announced on June 29, 2004.
