WT Microelectronics Co. plans to acquire the remaining 20% stake in its Singapore subsidiary for $30.08 million, completing its ownership of the former Excelpoint Technology business earlier than initially planned.
The Taiwanese chip distributor will purchase the shares from Albert Phuay Yong Hen, Excelpoint’s founder and chief executive officer, who retained the stake following WT Micro’s acquisition of Excelpoint in April 2022 through its unit WT Semiconductor Holdings Pte.
The buyout accelerates the original timeline, which had set the share transfer for the end of fiscal 2024 through put and call options. The earlier integration aims to streamline operations between the two companies, the Taipei-based firm said.
WT Micro has been expanding its footprint in Southeast Asia’s electronics supply chain since the NT$47 billion ($1.5 billion) Excelpoint acquisition. The company distributes electronic components from major manufacturers to customers across Asia.
The deal marks another step in consolidation within Asia’s semiconductor distribution sector, as companies seek to strengthen their regional presence and operational efficiency.
