Read Original Press Release: https://www.asmpacific.com/en/media-release/149-asmpt-completes-acquisition-of-automation-engineering-inc-aei
Singapore, February 3, 2022 – ASM Pacific Technology Ltd. (“ASMPT”) announced that it has completed its all-cash acquisition of Automation Engineering, Inc. (‘AEi’) from Mycronic Group (‘Mycronic’/SEK: MYCR) on February 1, 2022, after satisfying all closing conditions set out in the acquisition agreement. The deal was first announced in September 2021.
Established in 1990 and based in Tewksbury, Massachusetts, USA, AEi is widely recognised as the de facto leader for the automotive camera active alignment market. The acquisition provides ASMPT not only a significant presence in the automotive camera assembly and test solutions space, but the ability to offer total solutions for automated and scalable end-to-end camera module assembly to a significantly global, expanded served market. It will also enable the pursuit of new adjacent market opportunities in security surveillance, drones and LiDAR, which will greatly expand the addressable market for such solutions.
The AEi team under General Manager Jean Marc Peallat will report to the business cluster under Mr. CK Lim, CEO of the ICD/ Discrete Business Unit, Semiconductor Solutions, ASMPT. The AEi team will be able to benefit from both ASMPT Group’s extensive global sales and order fulfilment networks (particularly in Asia), and ASMPT’s product development synergies such as total in-line systems that include integrating Industry 4.0 capabilities with powerful analytics and AI capabilities to augment product lines.
“We warmly welcome the AEi team into the ASMPT family,” said Mr. Robin Ng, Group CEO, ASMPT. “AEi’s automotive camera assembly and test solutions are widely adopted by Tier 1 automotive module suppliers, and offer other compelling opportunities for growth. This is consistent with our clear strategy of pursuing sustained, profitable growth via expansion into promising adjacent markets. I believe the addition of AEi to our broader portfolio of leading products, services, and solutions will in turn help support ASMPT’s long-term revenue and earnings growth.”
About ASM Pacific Technology
ASMPT (HKEX stock code: 0522) is a leading global supplier of hardware and software solutions for the manufacture of semiconductors and electronics. Headquartered in Singapore, ASMPT’s offerings encompass the semiconductor assembly & packaging, and SMT (surface mount technology) industries, ranging from wafer deposition, to the various solutions that organise, assemble and package delicate electronic components into a vast range of end-user devices, which include electronics, mobile communications, computing, automotive, industrial and LED (displays). ASMPT partners with customers very closely, with continuous investment in R&D helping to provide cost-effective, industry-shaping solutions that achieve higher productivity, greater reliability and enhanced quality.
ASMPT is one of the constituent stocks of the Hang Seng TECH Index, Hang Seng Composite MidCap Index under the Hang Seng Composite Size Indexes, the Hang Seng Composite Information Technology Industry Index under Hang Seng Composite Industry Indexes and the Hang Seng Hong Kong 35 Index. To learn more about ASMPT, please visit us at www.asmpacific.com.