Trio-Tech (TRT) has completed the acquisition of all of the outstanding shares of Globetronics Shanghai (GSI), a semiconductor testing and burn-in business.
GSI was acquired from Globetronics International Inc., a British company, for approximately US$505,000 in cash.
"This acquisition establishes Trio-Tech in the important Chinese semiconductor market for the first time," said S.W. Yong, Chief Executive Officer of Trio-Tech. "Located on the Yangtze River Delta, Shanghai is one of China's most economically developed regions, and has become a magnet for foreign investment by major semiconductor companies and a focal point for the Chinese chip manufacturing industry. This acquisition gives Trio-Tech the opportunity to grow its testing and burn-in services in China significantly in the years ahead."
Founded in 1958, Trio-Tech International provides third-party semiconductor testing and burn-in services primarily through its laboratories in Southeast Asia.