Both companies have signed an agreement to that effect, which is expected to take effect by early 2011 at the latest, provided the cartel authorities and the shareholders of ASM agree.

This brings Siemens’s search for a strategic, industrial investor for its Siemens Electronics Assembly Systems GmbH & Co. KG subsidiary (SEAS) to a successful conclusion. The Hong Kong-based company with almost 12,000 employees worldwide and more than €425 million in sales is one of the world’s leaders in the production of chip assembly and bonding equipment.

By acquiring SEAS, ASMPT adds the SIPLACE placement technology brand to its portfolio and strengthens its own global presence, particularly in Europe. On the other hand, the deal gives the SIPLACE team access to ASMPT’s broad customer base and its distribution network in Asia, especially in China, to supplement its own contacts with companies all over the world. Neither ASMPT nor SEAS plans any job reductions or location closings as a result of this deal, as both companies plan on concentrating their focus on strengthening and expanding their customer relationships in their respective markets. The SIPLACE headquarters in Munich will not only continue to be the global development center for placement machine technology, but become the European headquarters for the total product portfolio.

"The general terms of this agreement are very promising for Siemens, ASMPT and the SIPLACE team. With their regional focus areas, their global presence and their portfolio, ASMPT and SIPLACE complement each other very well. Working together will open the door to great strategic opportunities. In our development and customer service activities, we will continue to operate as before - but with a new partner who focuses its resources and its know-how to expanding its leading position in the electronics manufacturing industry worldwide. This deal will create more investment protection for our customers and create new opportunities for integrating previously separate processes, for example in chip assembly or LED production," said Günter Lauber, CEO of the global SIPLACE team. "Thanks to our successful restructuring as part of our SIPLACE Excellence program, ASMPT is able to acquire the SIPLACE team, the locations and our global cluster organization without having to make any changes. As a result, we will be able to fully concentrate on our operations and our customers."

WK Lee, Chief Executive Officer ASM Pacific Technology Ltd, adds: "We strongly believe that the acquisition will represent an excellent combination of advanced technologies with vast experience in cost-efficient manufacturing and excellent partner networks. The synergistic effects of combining the strengths of the two organizations will serve to push the SIPLACE business and the whole ASM Group to new heights."