JF Tech completes Q3 Probe acquisition to boost vertical integration
KOTA DAMANSARA: Main market-listed leading innovator and manufacturer of high-performance test contacting solutions for global integrated circuit (IC) makers, JF Technology Bhd's wholly-owned subsidiary, JF International Sdn Bhd (JFI), has completed the acquisition of an 80% equity interest in Q3 Probe Pte Ltd for US$1.36 million, or approximately RM6.0 million, from the US-based parent company, Spire Manufacturing Inc (SMI).
The group also has the option to acquire the remaining 20% equity interest in Q3 by December 31, 2027.
JF Technology managing director Datuk Foong Wei Kuong said this acquisition brings forward momentum as the addition of Q3 is a highly synergistic move.
'It further enhances our vertical integration and elevates the group within the dynamic semiconductor supply chain.
'Q3 Proba's expertise in front-end wafer testing perfectly complements our test engineering solutions business.
'This creates a powerful combination that enables us to expand the business on a global scale,' he said in a statement.
Foong said by bringing Q3's capabilities into JF Technology's fold, the company is enhancing its test engineering solutions business and reinforcing its position across the entire semiconductor value chain—from front-end to back-end testing.
'We are now the only provider in Malaysia with such a comprehensive probe card product line,' he said.
Foong also noted that this vertical integration is a core pillar of JF Technology's ongoing JF 4.0 Transformation.
'We also plan to set up a production line in Malaysia to produce Q3's products to serve our strong customer base of more than 200 multinational corporations.
'Looking ahead, while we are navigating through a period of heightened geopolitical tensions, we continue to see vast opportunities ahead, especially from the electric vehicle (EV) applications,' he said.
Q3 is a specialist in manufacturing probe cards based in Singapore, supplying patented products to its customers.
For the financial year ended December 31, 2023, Q3 delivered a net profit of approximately S$231,000 or RM767,000.
The acquisition is structured with a 3-year performance earn-out arrangement amounting to US$90,670, or approximately RM401,000, at the end of each calendar year for 3 years post-closing, totaling US$272,010, or approximately RM1.2 million, contingent on meeting the profit guarantee by the vendor.
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