Japan’s Macnica Fuji Electronics buying Taiwan’s Anstek via tender

09, May. 2019

TAIPEI, NNA – Japanese semiconductor supplier Macnica Fuji Electronics Holdings Inc. is buying up to 50 percent of outstanding shares in Taiwan’s Answer Technology Co. through a tender offer.

The company said on Tuesday that its Taiwan subsidiary Macnica Chungju Co. will pay 41 New Taiwan dollars ($1.3) per share from Wednesday through June 26, an 18.3 percent premium on Tuesday’s closing price.

It will hold somewhere between 35 percent and 50 percent of the Taiwanese firm, also known as Anstek, for NT$941 million to NT$1.3 billion, the company said in a statement.

“It (Anstek) has maintained an extensive pool of clients in Taiwan in various industries,” Shiro Watanabe, general manager of the business development department at Macnica Fuji told NNA.

“We have similarities in products and sales practices, including our focus on technical support, which led to our decision on the acquisition,” he said.

The Yokohama-based electronics parts trader has conducted mergers and acquisitions in the past decade and the latest share purchase is part of its M&A strategy, Watanabe said.

Anstek, founded in 2000, reported a NT$177 million net profit on sales of NT$4.1 billion in 2018, according to its financial statement.

In 2010, Macnica Chungju bought a 60.32 percent stake in another Taiwanese company, Galaxy Far East Corp., which posted NT8.6 billion in sales in 2018.

The Japanese firm expects combined annual sales of Anstek and Galaxy to reach NT$14.2 billion soon after the takeover, Watanabe said without giving a timeframe.