© kemet Components | February 27, 2017
Kemet to acquire NEC TOKIN
Kemet Electronics Corporation has signed a definitive agreement and is targeting a closing date on or about April 10, 2017 to complete the acquisition of NEC Tokin.
Upon closing, NEC Tokin will change its name to Tokin Corporation and become a wholly-owned subsidiary of Kemet. NEC Tokin has entered into an agreement to sell its EMD division (Electromechanical Devices) to NTJ Holdings 1 Ltd., a special purpose entity that is owned by funds managed or operated by Japan Industrial Partners, Inc. for approximately JPY 48.2 billion (USD 422 million), prior to adjustments for net debt at closing and subject to customary post-closing adjustments. The proceeds of this transaction, after fees and taxes, will be used in part to repay the NEC intercompany debt resulting in an essentially debt-free balance sheet of NEC Tokin once it is acquired by Kemet. Under the terms of the definitive stock purchase agreement, KEC will pay to NEC the amount of JPY 6.0 billion (USD 52.5 million), plus one-half of the remaining amount which is determined to be the excess amount of net cash proceeds from the sale of the EMD business. “We are pleased to bring this acquisition to completion in such a positive manner. It has been a long road with hard work by many of the Kemet and NEC Tokin employees. We believe that this combination of our technologies and products will position us to return exponential value to our shareholders over the coming fiscal years,” stated Per Loof, the Company’s Chief Executive Officer. “In addition, our improved balance sheet position, combined EBITDA, and leverage statistics should enable us to refinance our existing debt at improved interest rates, resulting in less cash interest expense and providing additional earnings per share for our shareholders,” continued Loof.
Microsoft invests in AI Chip company Syntiant, a deep learning tech company providing AI voice and sensor solutions, has completed a USD 35 million Series C funding round.
Meyer Burger sells its microwave and plasma maker Muegge Meyer Burger Technology is selling its microwave and plasma technology company Muegge GmbH, to investment company HQ Equita.
ON Semi looking to sell Japanese facility ON Semiconductor is exploring a sale of its manufacturing facility in Niigata, Japan. The intended sale of the facility is part of the company’s plan to optimise its manufacturing footprint and sharpen its focus on highly differentiated power, analog and sensor products.
New VP of business development at Smith The distributor of electronic components and semiconductors has appointed Renato Souza to the position of Vice President of Business Development. Renato previously served as Vice President, Latin America of Smith since 2017.
Bosch launches 5G tests at Reutlingen wafer fab The German company believes 5G will be a key building block of digitalization and connectivity in manufacturing and logistics. And for that reason, Bosch is now starting compatibility tests and channel measurements for setting up a 5G network in its wafer fab in Reutlingen.
ACM Research receives orders from two new analog/power IC customers The supplier of wafer cleaning technologies for advanced semiconductor devices, has received purchase orders and final stage bidding activities for a total of USD 36 million from two new China-based customers that manufacture analog and power IC devices.
ClassOne's Solstice plating system selected for advanced MicroLEDs Semiconductor equipment manufacturer ClassOne Technology announces the sale of its Solstice GoldPro electroplating system to an unnamed developer of microLED technology for advanced applications.
Jenoptik: order intake down on prior year; order backlog slightly up From January through early March business performance was in line with expectations, but clear impacts of the corona pandemic and increasing uncertainty within the automotive industry became apparent from late March on.
Smiths Detection completes acquisition of PathSensors Smiths Detection has completed the acquisition of PathSensors, a bio-technology solutions and environmental-testing company, based in Baltimore, MD, USA.
Saab divests Dutch-based QPS Saab has divested the Dutch-based company QPS (Quality Positioning Services), a provider of hydrographic software solutions within the global maritime industry. The decision is in line with Saab’s strategy to optimise its product portfolio and increase focus on five core areas.
Eyeing SiC and GaN potential – GlobalWafers team up with NCTU Advancements in 5G and electric vehicle technologies are bringing the mounting demands of power semiconductor. GlobalWafers is teaming up with the National Chiao Tung University (NCTU) to develop the third generation semiconductor material.
Phison expands with new R&D centre Taiwanese NAND Flash controller IC and storage solutions provider, Phison Electronics, broke ground on a new R&D center and inventory management in Guangyuan Science Park in Zhunan township, back in late march.
Infineon swings to loss as the pandemic continues impact target markets “Infineon has so far coped well with the challenging situation caused by the coronavirus pandemic. As a company, we reacted quickly to the new situation and established a framework that has enabled us to stabilize our business,” says CEO Dr. Reinhard Ploss.
Murata completes new production building The Japanese manufacturer’s subsidiary, Izumo Murata Manufacturing, has completed the construction of a new production facility which started back in August 2019.
Analog Devices team up with Intel to address 5G network design challenges The companies are collaborating to create a flexible radio platform that addresses 5G network design challenges and will enable customers to scale their 5G networks more quickly and economically.
Atlas Copco has acquired the technology and operating assets of iTrap The Swedish company has acquired a technology for process diagnostics and control in the semiconductor industry.
Goodix closes acquisition of Dream Chip Technologies Shenzhen Goodix Technology Co. Ltd., an integrated solution provider, has completed its acquisition of Dream Chip Technologies GmbH (DCT), a fabless German semiconductor technology company.
Rebound Electronics team up with IHS Markit The pace of change in the electronics industry continues unabated for all customer types – OEM, ODM and EMS. This is driven by all component manufacturer types – including semiconductor, passive, connector and electromechanical – dynamically changing pricing, lead time, life cycle management and more.
New management takes the reins at Würth Elektronik eiSos As of the 1st of May 2020, Dirk Knorr and Josef Wörner have been appointed as General Managers for the German business of the Würth Elektronik eiSos GmbH & Co. KG, having been a part of the management circle of the company for years.
Seasoned financial and semiconductor executive joins GlobalFoundries GlobalFoundries has appointed David Reeder as its new Chief Financial Officer (CFO).
Global Semiconductor Packaging Materials Market to Reach $20.8 Billion by 2024 The global semiconductor packaging materials market will track chip industry growth to expand from USD 17.6 billion in revenue logged in 2019 to USD 20.8 billion in 2024, a 3.4% Compound Annual Growth Rate (CAGR), SEMI and TechSearch International forecast.Load more news