SV TCL to be acquired by Nidec-Read Corporation
Japanese Nidec-Read has signed a conditional sales and purchase agreement Ellipsiz Ltd – the parent company of SV Probe Pte Ltd (SV TCL) – to acquire 100% of the shares in in SV Probe Pte Ltd.
Nidec-Read is a Japanese manufacturer of measurement and inspection technologies. The company provides PCB Inspection Systems, Test Fixturing and MEMS Spring Probes and employs over 690 people worldwide. As part of Nidec-Read, SV TCL – which supplies high-performance probe cards and semiconductor test solutions – will have greater access to the resources necessary to develop more innovative advanced probe card technologies, especially the ability to leverage the MEMS Spring Probe technologies. SV TCL will continue to run independently and the same management team in place for a seamless transition and minimum disruption to our operations. “SV TCL is supportive of this move as we believe that the complementary relationship between Nidec-Read and SV TCL will enhance SV TCL’s effort in providing leading-edge probe cards addressing new and emerging semiconductor device applications that require tighter pitches and higher parallelism.” said Kevin Kurtz, President & CEO of SV TCL. “The collaboration will also enable us to get these products to market faster meeting our customers’ timelines with a quality product.” “We see this acquisition of SV TCL as a perfect fit into Nidec-Read’s overall strategy,” said Michio Kaida, President & COO of Nidec-Read. “Their products align well with what we have to offer and we expect to gain competitiveness in the Semiconductor market by applying our MEMS spring pin technology to the SV TCL vertical products. This combination will add yet another level of capabilities and products to our extensive line of inspection, measurement, and package test fixturing products.” The transaction is expected to close at the end of October 2017, pending the completion of certain closing conditions.