WT Microelectronics to acquire Excelpoint Technology
Taiwanese electronic components distributor, WT Microelectronics, will acquire 100% of Singaporian distributor Excelpoint Technology via its subsidiary WT Semiconductor for SGD 232.2 million (about USD USD 171 million)
The transaction is expected to close in the third quarter of 2022, subject to, among others, the approvals of Excelpoint shareholders and clearance from relevant regulatory authorities, a press release reads.
The founder and CEO of Excelpoint, Mr. Albert Phuay, will reinvest part of the cash consideration into WT Semiconductor and thus hold a 20% stake in the acquiring company, while WT Microelectronics will hold an 80% stake. Mr. Albert Phuay will also continue to be the CEO of Excelpoint.
In 2021, amidst continued Covid-19 pandemic and uncertain macroeconomic environment, Excelpoint achieved strong growth in revenue and operating profitability. Through the years, the company has built long-term relationships suppliers, such as Analog Device (ADI), Microchip, Qorvo, Qualcomm, and Samsung, among others. The company continues to expand its customer base and now works closely with over 4,000 customers.
WT Microelectronics points out in the press release that there are are strong synergies between both companies. The enhanced complementary product line offerings will allow for business expansion. In addition, the established customer bases combined would significantly improve the distribution capabilities and customer portfolios of WT in the Asia Pacific region.