Unic Capital Management, a subsidiary of Sino IC Capital Co. Ltd., agreed to acquire U.S. semiconductor test company Xcerra Corporation for USD580 million.
Unic will purchase Xcerra at the price of USD10.25 per share in cash. As a result of the news, Xcerra shares gained 7% increase to close at USD9.63 on April 10, 2017.
This transaction is still subject to the approval of the Committee on Foreign Investment in the United States and it is expected to close before the end of 2017.
Sino IC Capital was founded in August 2014 and the company's managed fund scale is about CNY138.7 billion, which is about USD20.9 billion.
Massachusetts-based Xcerra specializes in the design and manufacturing of equipment for semiconductor and circuit board testing, but it does not make semiconductors. Under the agreement, Xcerra is able to seek other buyers during the following 35 days.