Tztek Technology, a Chinese smart industrial equipment maker, has agreed to buy German semiconductor wafer test equipment supplier MueTec Automated Microscopy and Messtechnik GmbH for 18.2 million euros ($20.5 million), according to a filing to the Shanghai Stock Exchange Monday.
Suzhou-based Tztek will buy a 92% stake from German-listed investment firm Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG and a 8% stake from individual investor Ralph Detert through its wholly owned subsidiary SLSS Europe GmbH, the filing said.
Tztek has also agreed to repay MueTec’s 2 million euro debt as part of the acquisition agreement, which is awaiting government approval from China and Germany.
Tztek said that the acquisition will help it enter the semiconductor testing equipment market with fewer uncertainties as the Chinese company seeks new growth drivers.
Going public on Shanghai’s Nasdaq-style high-tech STAR Market last year, Tztek produces intelligent manufacturing systems, precision measuring instruments and intelligent testing equipment.
Contact reporter Ding Yi (email@example.com)