GlobalWafers wants Crystalwise's shanghai subsidiary
GlobalWafers has disclosed that it will sign the letter of intent with Crystalwise Technology to acquire 100% of its subsidiary, Shanghai Sawyer Shenkai Technology Material, for up to RMB 100 million (about USD 14.75 million).
Founded back in 2000, SSKT manufactures LT (LiTaO3) and LN (LiNbO3) wafers through one-stop production from crystal growth to polish and is qualified by customers. LT and LN wafers are the crucial substrates for SAW Filter, which are used in applications in the fields of wireless communication and satellite.
Crystalwise plans to sell SSKT due to financial reasons, a press release reads. The transaction will enable GlobalWafers to step into the oligopolistic LT/LN wafer markets and encompass special wafers into its wafer portfolio.
5G commercialisation is moving at a rapid pace, and service providers continue to invest in 5G deployments to further fuel 5G subscription growth. Apart from the increasing data transmission and smartphone performance enhancement, LTE deployment in emerging economies as well as the space race among many countries propel the market for SAW Filter as it could be used in various wireless communications, GPS and other satellite navigation devices, driving the burgeoning demand for LT/LN wafers.
The acquisition is subject to approval from Crystalwise’s shareholders at an extraordinary general meeting.
