Latest news with #UTAC
Yahoo
26-05-2025
- Business
- Yahoo
Foxconn among potential bidders for Singapore's UTAC
Taiwanese electronics giant Foxconn is among potential bidders for UTAC Holdings, a Singapore-based semiconductor assembly and testing firm, reported Reuters citing two people with knowledge of the matter. A potential transaction could value UTAC at approximately $3bn, according to two sources. The move follows report by Bloomberg in April 2025 that current owner of UTAC, China-based private equity firm Wise Road Capital, was looking to divest the semiconductor firm. Acquired by Wise Road in 2020, UTAC is engaged in providing a suite of semiconductor assembly and testing services, catering to product categories such as analogue, mixed-signal and logic, and memory. Established in 1997, UTAC offers assembly and test services for semiconductor chips used in a wide range of applications, including consumer electronics, computing, security devices, and medical technology. UTAC also operates manufacturing facilities in Thailand, China, and Indonesia, and maintains a global sales presence spanning the US, Europe, and Asia. The company's clientele primarily consists of fabless companies, integrated device manufacturers and wafer foundries. Wise Road Capital has engaged investment bank Jefferies to oversee the sale process. Non-binding bids are expected to be submitted by the end of this month, the sources said. UTAC is anticipated to draw interest from both financial and strategic buyers outside the US, due to its business links to China, according to the sources. While UTAC does not publicly share its financial details, sources estimate its annual earnings before interest, taxes, depreciation, and amortisation at around $300m. Foxconn, known as a key supplier to Apple, has been increasing its involvement in the semiconductor sector as part of its broader growth strategy. "Foxconn among potential bidders for Singapore's UTAC – report" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-05-2025
- Business
- Yahoo
Foxconn among potential bidders for Singapore's UTAC
Taiwanese electronics giant Foxconn is among potential bidders for UTAC Holdings, a Singapore-based semiconductor assembly and testing firm, reported Reuters citing two people with knowledge of the matter. A potential transaction could value UTAC at approximately $3bn, according to two sources. The move follows report by Bloomberg in April 2025 that current owner of UTAC, China-based private equity firm Wise Road Capital, was looking to divest the semiconductor firm. Acquired by Wise Road in 2020, UTAC is engaged in providing a suite of semiconductor assembly and testing services, catering to product categories such as analogue, mixed-signal and logic, and memory. Established in 1997, UTAC offers assembly and test services for semiconductor chips used in a wide range of applications, including consumer electronics, computing, security devices, and medical technology. UTAC also operates manufacturing facilities in Thailand, China, and Indonesia, and maintains a global sales presence spanning the US, Europe, and Asia. The company's clientele primarily consists of fabless companies, integrated device manufacturers and wafer foundries. Wise Road Capital has engaged investment bank Jefferies to oversee the sale process. Non-binding bids are expected to be submitted by the end of this month, the sources said. UTAC is anticipated to draw interest from both financial and strategic buyers outside the US, due to its business links to China, according to the sources. While UTAC does not publicly share its financial details, sources estimate its annual earnings before interest, taxes, depreciation, and amortisation at around $300m. Foxconn, known as a key supplier to Apple, has been increasing its involvement in the semiconductor sector as part of its broader growth strategy. "Foxconn among potential bidders for Singapore's UTAC – report" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mail
23-05-2025
- Automotive
- Daily Mail
RAY MASSEY: Take your seat in the Hyundai Inster
Hidden among rolling hills in Bedfordshire is a wonderful automotive facility that looks uncannily like a life-sized Teletubbies set. But amid the undulating landscape of trees, grass and futuristic buildings, is a complex network of tracks where a wide variety of mainly camouflaged motor cars and military vehicles are secretly being put through their paces during development. This is the world-renowned Millbrook Proving Ground, run by testing specialists UTAC. It boasts more than 30 miles of roads and replicates every challenge encountered by British motorists from bumps and potholes to a two-mile high-speed endurance circuit. I was there for the annual driving jamboree of the Society of Motor Manufacturers and Traders (SMMT), at which major car makers bring their newest models for journalists to test drive and share the latest industry news. During my visit, I had the chance to drive Hyundai's funky and surprisingly spacious new four-door Inster, a mini urban SUV which has just been crowned best electric car in the World Car Awards. The Korean car is an affordable and roomy rival to Renault's R5 hatchback, with a higher roof and more headroom. Prices start from £23,505 for the standard Inster 01 running on 15 in alloy wheels, £26,755 for the Inster 02 with 17 in wheels, and £28,755 for the Inster Cross. There are two battery options: a standard 42kWh, and the longer range 49kWh which I drove. Accelerating from 0 to 62mph in 10.6 seconds, and with a top speed of 93mph and a 229-mile range, my Inster drives well, with sufficient punch up the hills, manoeuvrability on corners and spirit on the straight. I like its bright interior, with customisable door trim and up to 351 litres of boot space. But my time at Millbrook also included a reality check, provided by SMMT chief executive Mike Hawes. He warned that the Government must do more to incentivise motorists to switch to EVs: cutting VAT on charging, introducing a three-year halt on VAT on EV sales and providing more public charging points. Hyundai's Inster is an example of the unprecedented choice of EVs currently enjoyed by motorists. But I can only agree that we will need 'bold support' from ministers to reverse the lack of public demand from private EV buyers. Without it, zippy cars like the Inster won't get beyond Millbrook's test tracks.
Time of India
23-05-2025
- Business
- Time of India
Foxconn among potential bidders for Singaporean chip assembly firm UTAC in $3 billion deal
Taiwan's Foxconn is among potential bidders for the Singaporean semiconductor assembly and testing business UTAC Holdings in a deal that could value the company at about $3 billion, two people with knowledge of the matter said. UTAC's owner, Beijing-based private equity firm Wise Road Capital, has hired Jefferies to run a sale process and is expecting to field non-binding bids by end of this month, the sources said. Both the sources declined to be named as the information was confidential. Foxconn declined to comment and UTAC, Wise Road and Jefferies did not immediately respond to a request for comment. Global chip manufacturing has been beset by concerns over national security and technological competition in recent years, particularly between the United States and China. Historically, semiconductors have relied on a very global manufacturing supply chain, but the U.S. has made moves to curb China's access to advanced chips and high-end manufacturing tools, citing risks that these would benefit China's military, which Beijing denies. The sources said that UTAC is likely to attract interest from financial and strategic bidders that are not from the U.S. due to its China presence. Foxconn, a major supplier to Apple and the world's largest contract electronics maker, has expanded into making semiconductors in recent years as part of its long-term growth strategy, its website says. Founded in 1997 in Singapore, UTAC provides assembly and test services for semiconductor chips with various end uses, including consumer, computing and security devices and medical applications. Outside Singapore, it also has production facilities in Thailand, China and Indonesia and with a global sales network that covers the U.S., Europe and Asia, according to the company website. Its customers are primarily "fabless" companies - meaning those that outsource fabrication - as well as integrated device manufacturers and wafer foundries. UTAC does not disclose its financial performance but its estimated annual earnings before interest, taxes, depreciation, and amortisation are about $300 million, said the sources.
Yahoo
23-05-2025
- Business
- Yahoo
Exclusive-Foxconn among potential bidders for Singaporean chip assembly firm UTAC in $3 billion deal, sources say
By Kane Wu HONG KONG (Reuters) -Taiwan's Foxconn is among potential bidders for the Singaporean semiconductor assembly and testing business UTAC Holdings in a deal that could value the company at about $3 billion, two people with knowledge of the matter said. UTAC's owner, Beijing-based private equity firm Wise Road Capital, has hired Jefferies to run a sale process and is expecting to field non-binding bids by end of this month, the sources said. Both the sources declined to be named as the information was confidential. Foxconn and Jefferies declined to comment, while UTAC and Wise Road did not immediately respond to a request for comment. Global chip manufacturing has been beset by concerns over national security and technological competition in recent years, particularly between the United States and China. Historically, semiconductors have relied on a very global manufacturing supply chain, but the U.S. has made moves to curb China's access to advanced chips and high-end manufacturing tools, citing risks that these would benefit China's military, which Beijing denies. The sources said that UTAC is likely to attract interest from financial and strategic bidders that are not from the U.S. due to its China presence. Foxconn, a major supplier to Apple and the world's largest contract electronics maker, has expanded into making semiconductors in recent years as part of its long-term growth strategy, its website says. Founded in 1997 in Singapore, UTAC provides assembly and test services for semiconductor chips with various end uses, including consumer, computing and security devices and medical applications. Outside Singapore, it also has production facilities in Thailand, China and Indonesia and with a global sales network that covers the U.S., Europe and Asia, according to the company website. Its customers are primarily "fabless" companies - meaning those that outsource fabrication - as well as integrated device manufacturers and wafer foundries. UTAC does not disclose its financial performance but its estimated annual earnings before interest, taxes, depreciation, and amortisation are about $300 million, said the sources. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
