© kritchanut dreamstime.com Electronics Production | March 29, 2019
ST Engineering to acquire Newtec for €250 million
Singapore Technologies Engineering says that its subsidiary Singapore Technologies Engineering (Europe) Ltd, has entered into a conditional share purchase agreement to acquire a 100% ownership of established Belgium-based satcom company Newtec Group NV.
The consideration of EUR 250 million on a cash-free and debt-free basis for the proposed acquisition, subject to closing adjustments, is payable in cash. Satcom is a fast-growing industry, the surge of Low Earth Orbit (LEO) constellations will increase bandwidth capacity and reduce operating cost, thereby creating new demand. New use cases, especially to support Smart City applications such as IoT and connected cars, will drive demand for satcom services. ST Engineering has been growing its satcom business through its US-based iDirect and Singapore-based satcom product and solution business. In 2018, ST Engineering formed a JV company named Jet-Talk Limited, with SatixFy UK Limited to develop cost-effective, high-performance flat panel antenna to address the growing demand for in-flight connectivity. On the other hand, Newtec is a key technology provider in the satellite broadcast segment with ultra-high throughput capabilities and a strong presence in the European satcom market. Recently, Newtec was among the first companies to successfully test over-the-air communication via LEO satellites. LEO satellites are expected to take off with the launch of more than 5’000 satellites in the coming years. The company is also well placed to leverage the advent of IP-based satellite broadcast which is critical for real-time content distribution. The proposed acquisition of Newtec will add intellectual property, products and market access. ST Engineering will continue to invest in Newtec in Belgium to position it to be the Group’s European centre for the satcom business. “This proposed acquisition expands our satcom business in a meaningful way in an attractive industry that is high-tech and high-growth, driving connectivity advances in a world where 5G and satcom converge,” says Vincent Chong, President & CEO, ST Engineering, in a press release. “It aligns with our strategy to invest in businesses that help accelerate our growth trajectory, especially in Smart City, to deliver long-term shareholder value.” “We are pleased to be able to acquire Newtec, an established satcom player with strong technology foundations. The differentiated yet complementary technologies, combined with our track record and established satcom experience, will enable us to innovate and deliver more value-added, advanced satellite products and capabilities to our customers, at a more rapid pace,” said Ravinder Singh, President, Electronics sector, ST Engineering. “This coming together of two companies will enable us to move forward together, using our deep-rooted passion for innovation to address our rapidly changing world of connectivity,” adds Roald Borré, Chairman of Newtec Board of Directors. “This is an exciting and hugely significant step that simply makes sense for our customers and our staff.”
U.S. polysilicon makers laud Phase 1 of China deal The United States’ three remaining manufacturers of polysilicon expressed appreciation to President Trump and praised U.S. negotiators for securing the Chinese commitment to purchase U.S. polysilicon in the first phase of the U.S.-China trade deal.
Dupont explores divestiture of electronics unit Following its recent USD 26.2 billion deal to sell off its nutrition business, DuPont de Nemours Inc. is weighing a divestiture of its electronics unit, according to people familiar with the matter.
AMD bolsters exec leadership team AMD has announced several promotions and one new hire to its senior leadership team, in an effort to enable the company’s continued growth in the high-performance computing, graphics and visualization technologies market.
Webasto opens new battery centre in Jiaxing Webasto has inaugurated its new roof plant and battery center in Jiaxing (Zhejiang Province) close to Shanghai.
Sponsored content by CMLCML manufactures Insulated Metal Substrate (IMS) solutions Printed circuit boards (PCBs) plays an important role in our day to day life. Whether it’s the car you’re driving, the phone that you’re scrolling through or computers that you’re sending emails from. What happens when you use heat generating components on a PCB? That’s right, cooling is needed!
Panasonic to expand its manufacturing footprint in India Panasonic is looking to build a new wiring device factory in southern India. The new factory is scheduled to start production in autumn 2021, responding to the increased demand in the country.
Season Group strengthens wireless R&D & manufacturing capability Season Group has invested in, and installed, two high-speed and high-precision wireless communication testers - Rohde & Schwarz’s R&S CMW500 Wideband Radio Communication Tester and R&S CMW100 Communications Manufacturing Test Set.
Rocket Lab expands capabilities in So Cal Rocket Lab announced this week it will open a new facility to serve as its corporate headquarters and provide increased production capacity.
PCB Piezotronics unveils new clean rooms PCB Piezotronics Inc., a wholly owned subsidiary of MTS Systems Corporation, has announced the completion of environmentally controlled clean rooms at their DePew, New York facility.
European loudspeaker company brings production back home Difficulties manufacturing smaller design series among reasons for the decision to return back to base.
China only region to register pure-play foundry market growth Rise of China-based fabless IC suppliers offers increased opportunities for foundries, IC Insights states in a recent report.
Mycronic receives first SLX order Swedish production equipment specialist, Mycronic, has recieved their very first order of its mask writer SLX.
600 new German jobs as VARTA expands production again The lithium-ion battery market continues to experiencing growth, currently the market is poised to continue to move forward with an annual growth of about 30% – and VARTA wants a big piece of the pie.
FTG achieves S9100D certification at acquired PCB fab Firan Technology Group Corporation has completed and received AS9100D Certification from SAI Global Ltd. for its recently acquired PCB manufacturing facility located in Fredericksburg, Virginia USA (formerly Colonial Circuits Inc.).
Dutch block sale of technology, China miffed Following ASML’s denial of an export license by the Dutch government to sell a piece of critical chip-making technology to the Chinese, China’s ambassador to the Netherlands has issued a statement expressing his country’s displeasure.
DuPont aids S. Korea in photoresist shortage The office of Korea’s Ministry of Trade, Industry, Sung Yun-mo, met with DuPont President Jon Kemp last week to confirm DuPont’s investment in the country’s need for diversification of its EUV photoresist supply.
Volvo building U.S. battery assembly plant In preparation for bringing a new line of electric vehicles to the U.S. market, Volvo announced it will build a battery assembly plant at its existing facility in Ridgeville, South Carolina.
New game consoles expected to trigger demand surge for graphics DRAM and SSD's TrendForce expects the year-end release of new generation game consoles to trigger a demand surge of graphics DRAM and SSD's during the second half of 2020.
A new year begins with new machinery at Swedish Microwave In Motala, Sweden sits Europe’s oldest manufacturer of Low Noise Block down-converters (LNB) for the global satellite market, namely Swedish Microwave (SMW). The company is now kicking off 2020 with an investment in production.
Lucid eyeing April reveal of pre-production sedan Luxury EV manufacturer Lucid has announced that production is underway in Silicon Valley of 80 beta prototypes of its luxury sedan, Lucid Air, to be unveiled in April in New York City.
Ideal Industries moving the ball forward at Cree Following its March announcement that Cree had sold off the entirety of its lighting business to Ideal Industries in a USD 310 million deal, Ideal said it would remain dedicated to pumping investment dollars into the now privately-held Cree Lighting.
Former pSemi exec and CEO Jim Cable retires pSemi Corporation has announced the retirement of former CEO and long-term executive Jim Cable.
Rohde & Schwarz inks agreement to use Benchmark's muscles The German electronics group has signed a strategic agreement with US EMS provider, Benchmark Electronics, to enhance its manufacturing capacities.
Stoneridge appoints new VP of operations Stoneridge Inc. has announced Kevin Heigel as its new vice president of operations.
Gartner: Worldwide semiconductor revenue declined 11.9% in 2019 Intel reclaimed top spot in global semiconductor market; Samsung moved to no. 2.Load more news