ASE Assembly & Test (Shanghai) Ltd. will pay about $11.3 million to buy an undisclosed amount of shares in Wuxi Tongzhi Microelectronics Co. Ltd.
ASE provides semiconductor manufacturing assembly and test services. Wuxi, China-based Wuxi Tongzhi also provides chip assembly and testing. The deal should allow ASE to increase its services.
The shares are owned by Toshiba Semiconductor (Wuxi) Co. Ltd., a subsidiary of Toshiba Corp. (TSX: 6502).
Taipei, Taiwan-based ASE is owned by Advanced Semiconductor Engineering Inc. (TAIEX: 2311, NYSE: ASX), which also provides semiconductor manufacturing services.
In April, Electro Scientific Industries Inc. (Nasdaq: ESIO) agreed to buy GSI Group Inc.’s (Nasdaq: GSIG) semiconductor business for an undisclosed amount.