Ayala to possess 56 percent stake in PSi Technologies
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Ayala to possess 56 percent stake in PSi Technologies

By SiliconIndia   |   Monday, 28 June 2010, 07:48 Hrs
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Manila: Psi Technologies, a semiconductor assembly and test service provider is set to be acquired by Integrated Micro-Electronics (IMI) of Ayala Group and Narra Venture Capital II (NarraVC) for $30 million.

This acquisition will help PSi to beef up the integrated hybrid power solution in a multichip module (MCM) which incorporates the advanced manufacturing technologies of IMI and PSi.

Arthur Tan President and Chief Executive of IMI said, "With the growing convergence of power semiconductor assembly and test services and EMS, the impending purchase of IMI of PSi Technologies will enable the IMI group to enhance its service offering to its OEM customers."

Out of the 67 percent stake in Psi IMI will own 56 percent while NarraVC will possess 11 percent.

According to Sherisa Nuesa, IMI Chief Finance Officer, and PSi Technologies will gain new equity from IMI and NarraVC.

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