# Universal Scientific Industrial acquires Asteelflash for $450 million

Universal Scientific Industrial (Shanghai) Co., Ltd. agreed to acquire 100% of Asteelflash for $450 million, with 89.6% in cash and 10.4% in USI shares.

- Type: Acquisition
- Announced: 2019-12-12
- Where: France
- Value: $450.0M
- Status: announced
- Products: system in package manufacturing, electronic manufacturing services
- Sectors: [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Universal Scientific Industrial (Shanghai)](https://endata.com/companies/29912.md) (acquirer)
- [Asteelflash Group](https://endata.com/companies/32802.md) (target)

## Sources

- [davispolk.com](https://www.davispolk.com/experience/davis-polk-advises-universal-scientific-industrial-its-acquisition-asteelflash), 2019-12-12: "USI will acquire 100% of the equity interests in Asteelflash for an aggregate consideration of $450 million, of which 89.6% will be paid in cash and 10.4% will be paid through the issuance of shares in USI to the holding company of Asteelflash’s founder."
- [usiglobal.com](https://www.usiglobal.com/en/news/intends-to-acquire-afg), 2019-12-13: "USI formally announced its intention to enter into the Equity Acquisition Agreement with the shareholders of Asteelflash, the second-largest EMS company in Europe. It intends to acquire 100% equity of Asteelflash for 450 million US dollars"
- [prnewswire.com](https://www.prnewswire.com/news-releases/usi-intends-to-acquire-asteelflash-europes-second-largest-ems-company-to-accelerate-its-global-expansion-300974267.html), 2019-12-13: "USI formally announced its intension to enter into the Equity Acquisition Agreement with the shareholders of Asteelflash, the second largest EMS company in Europe."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.