Nidec To Buy Singapore-based SV Probe From Ellipsiz For $65 Mln In Cash

(RTTNews) - Nidec Corp. (NJDCY.PK), a manufacturer of electric motors and related components and equipment, announced Monday that its unit Nidec-Read Corp. has agreed to acquire SV Probe Pte. Ltd. , a probe card manufacturer from Singapore-based Ellipsiz Ltd. The purchase price is $65 million in cash.

For this purpose, Nidec-Read entered into a stock purchase agreement on August 21. Closing of the transaction is expected at the end of October 2017.

SV Probe, with 978 employees, manufactures probe cards for semiconductor wafer inspection, with footholds in Japan, Singapore, Taiwan, China and Vietnam.

Nidec-Read's main business is the development, manufacturing and sales of inspection equipment for semiconductor package substrates and printed circuit boards, as well as inspection fixture.

Through the deal, Nidec-Read expects to gain competitiveness in the inspection market by applying its MEMS spring probe technology to the vertical probe cards manufactured by SV Probe.

In addition, Nidec-Read will be able to reduce manufacturing costs and improve investment efficiency. Nidec-Read also expects to sell its inspection equipment through SV Probe's sales channel to the leading semiconductor manufactures.