China-based private equity firm Wise Road Capital is contemplating the sale of UTAC Holdings, a semiconductor assembly and testing company, reported Bloomberg, citing sources.
Wise Road has engaged an undisclosed adviser to explore a potential sale of UTAC, which could value the company at approximately $3bn (S$3.93bn), the sources told the publication.
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The deliberations regarding the sale of the Singapore-based company are still in the preliminary stages, and it is possible that Wise Road may choose not to proceed, the report said.
Neither Wise Road nor UTAC have offered any comments on the potential sale so far.
UTAC was acquired by Wise Road in 2020 from a group of shareholders including Affinity Equity Partners and TPG.
UTAC Holdings 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.
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By GlobalDataThe company has production facilities across Singapore, Thailand, China and Indonesia.
UTAC’s global sales network targets the US, Europe, China and Taiwan, Japan and the rest of Asia, with sales offices established in each of these five regions.
The company’s clientele primarily consists of fabless companies, integrated device manufacturers and wafer foundries.
Wise Road’s investment focus encompasses sectors such as semiconductors, automotive electronics, robotics, the Internet of Things and sustainability.
Its investors range from technology companies to financial institutions and family offices.
