© Universal Scientific Industrial Electronics Production | December 03, 2020
USI completes its acquisition of Asteelflash
ASE Technology’s subsidiary, Universal Scientific Industrial (Shanghai), has successfully completed the acquisition Asteelflash Group from Financière AFG S.A.S. (FAFG).
The French EMS provider’s current management team will continue in key management roles within USI. The combined companies' customer portfolio, expanded global footprint and technological capabilities will allow for geographical market expansion along with broadened service offerings. USI and Asteelflash Group will immediately start to implement a synergy plan – leveraging combined sales, supply chain management and technology sharing. This combination is a major step in the expansion of USI's international position, a press release reads. The closing consideration was paid in an amount of USD 421.5 million including cash and share consideration. In addition to the closing consideration, Universal Scientific Industrial (France), USI's subsidiary, is obliged to pay an additional amount up to USD 42.8 million in cash, subject to an earn-out mechanism linked to FAFG's business performance after the end of year 2022.