A unit of Laguna-based semiconductor maker Cirtek Holdings Philippines Corp. is acquiring a local manufacturer of integrated technology products specific to the wireless industry to expand its portfolio and increase sales.
In a disclosure to the Philippine Stock Exchange, Cirtek said its wholly-owned unit Cirtek Electronics International Corp. (CEIC) signed a share purchase agreement with Remec Broadband Wireless Holdings Inc. to fully acquire its subsidiary Remec Broadband Wireless International Inc.
Remec Broadband Wireless International (RBWI) is a local manufacturer of value -added, highly integrated technology products used in the wireless industry.
No other details of the transaction were given in the disclosure.
“The acquisition expands [Cirtek's] product and technology portfolio into the high-growth wireless communication space,” the disclosure read.
Cirtek is primarily engaged in the manufacture and sale of semiconductor packages as an independent subcontractor for outsourced semiconductor assembly, test and packaging services. – Danessa O. Rivera/VS, GMA News