IMI to Acquire EPIQ Subsidiaries in Bulgaria, Mexico and the Czech Republic

Electronics NewsSouth-East European INDUSTRIAL Мarket - issue 1/2011

Integrated Micro-Electronics, Inc. (IMI), a leading provider of electronics manufacturing services (EMS), power semiconductor assembly and test services in the Asian region, today announced that it has entered into an agreement with EPIQ NV (“EPIQ”), for the acquisition by IMI, through its subsidiary Cooperatief IMI Europe U.A., of the EPIQ subsidiaries in Bulgaria, Mexico and the Czech Republic. The purchase consideration of approximately €43 million will be a combination of cash and 200 million newly-issued IMI shares representing approximately 12% ownership in common shares on a fully diluted basis.
As part of IMI’s strategic initiatives, the acquisition will enable IMI to establish a global geographic footprint in manufacturing as well as in technology development and engineering.Arthur R. Tan, IMI President and Chief Executive Officer, said, "IMI is pursuing this value-enhancing acquisition to expand its customer base and to support its market specialization strategy in the automotive and industrial segments. As regional manufacturing picks up steam, we are expanding our operations to locations near our global customers in Europe and North America to be of better service to them.”
The acquisition is expected to be completed no later than the fourth quarter of 2011. ING Bank N.V. is acting as financial advisor to IMI in the transaction.

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