Taiwanese semiconductor giant ASE Technology has offered to sell its $ 1.46 billion assets to Wise Road Capital. In a separate development, Markai secured $ 4 million to buy out Chinese e-commerce brands.
Taiwan’s ASE Technology Sells Assets to Wise Road Capital for $ 1.46 Billion
Taiwanese semiconductor giant ASE Technology Holding has agreed to sell a portfolio of its assets to Beijing-based private equity firm Wise Road Capital for $ 1.46 billion, it said on Wednesday.
ASE will sell shares of its subsidiary GAPT Holding, which has a combined 100% stake in five companies: Global Advanced Packaging Test (Hong Kong), ASE (WeiHai), Suzhou ASEN Semiconductors, ASE Advanced Semiconductor (Shanghai) Limited and ASE ( Kun Shan).
ASE has 101,000 professionals around the world. The acquisition will help the company improve its competitiveness in China, increase its investment in advanced technologies and expand its business in Taiwan. In addition, it allows ASE to develop a better global presence and services for clients.
Wise Road Capital is focused on semiconductors. Some of the companies in its portfolio are Nexperia, ScioSence, JLQ Technology and Huaqin Technology.
Markai raises $ 4 million to buy Chinese e-commerce brands
U.S. ecommerce aggregator Markai has secured $ 4 million from Pear VC, Sea Capital and other undisclosed California-based investors. The new vehicle will help Markai buy back e-commerce brands in China, he said.
With a long history of export manufacturing, China is home to the world’s largest pool of Amazon sellers, providing an ideal sourcing destination for Maikai and other players.
Maikai, which was co-founded by two Stanford Business School graduates Tim Spencer and Chenyu Ren, is acquiring small-scale e-commerce startups and helping them grow.
Besides Markai, US-based Thrasio and Germany-based Berlin Brands Group and Razor have entered this space lately.