USI intends to acquire Asteelflash, the second largest EMS company in Europe
According to the EMS company Universal Scientific Industrial (USI)'s announcement on the 12th, it has signed a "Share Purchase Agreement" with shareholders of Asteelflash, the second largest EMS company in Europe, and will acquire 100% of the company's equity for about 450 million US dollars. The transaction is subject to approval by the relevant authorities.
After the acquisition is completed, Asteelflash will become a subsidiary of USI from a privately held company. USI will maintain Asteelflash's existing operating team.
USI said that in the face of future industrial fragmentation, product diversification, and service regionalization, with the accelerated development of 5G, Internet of Things (IoT), artificial intelligence (AI), and edge computing technologies, the market needs EMS provider with global layout and flexible operations. The addition of Asteelflash to USI will make USI a larger platform that can enhance manufacturing knowledge, expand global influence, and gain more cutting-edge technology research and development resources.
Asteelflash CEO Gilles Benhamou said that USI has a solid foundation and experience in manufacturing, design and automation, and has great value for the company's development and continuous improvement. Asteelflash will leverage USI's capabilities to seize business opportunities across markets and applications, from customer continuous design services to product system assembly, and look forward to growing with USI to provide world-class services and quality to customers worldwide.