Powertech looking to acquire two Japanese firms

Powertech Technology Inc. (PTI) has signed agreements with Micron Technology Inc. and Micron Memory Japan Inc. to acquire its 39.6% stake in Tera Probe Inc. through a public tender offer bid, and its 100% shares of Micron Akita, an assembly and test plant located in Akita, Japan. PTI currently holds 11.6% in Tera Probe and following the tender offer bid (via PTI’s subsidiary, Powertech Technology Japan Ltd) the company will own 51.2% of the total outstanding shares of Tera Probe. PTI has signed a stock purchase agreement with Micron to acquire all the shares of Micron Akita Inc., an assembly and test plant located in Akita, Japan – the company has also signed an Assembly and Testing Services Agreement to enhance the long-term strategic relationship between PTI and Micron. “PTI is pleased to take this opportunity to expand its business operation in the Japan region. Micron Akita Inc. has great facilities and a talented team with solid assembly and testing capabilities. PTI plans to build its capacity in Akita to serve our current and new customers in Japan, especially in developing Japan-based customers for automotive IC and IoT (Internet of Things) products to enhance our momentum for revenue growth,” said PTI Chairman & CEO D. K. Tsai