Technoprobe — M&A Activity 2023

Jul 3, 2023

Informazione Regolamentata n. 20250-55-2023		Data/Ora Inizio Diffusione 03 Luglio 2023 16:50:01	Euronext Milan
Societa'	:	TECHNOPROBE
Identificativo Informazione Regolamentata	:	178929
Nome utilizzatore	:	TECHNOPROBEN04 - Di Terlizzi
Tipologia	:	2.2
Data/Ora Ricezione	:	03 Luglio 2023 16:49:54
Data/Ora Inizio Diffusione	:	03 Luglio 2023 16:50:01
Oggetto	:	Binding Offer Harbor Electronics
Testo del comunicato

Vedi allegato.

Technoprobe S.p.A. Via Cavalieri di Vittorio Veneto, 2 23870, Cernusco Lombardone (LC) - Italy www.technoprobe.com

PRESS RELEASE

Technoprobe signs a binding offer for the acquisition of Harbor Electronics, a company specializing in the production of advanced printed circuit boards for the testing market from the Group headed by Shenzhen Fastprint Circuit Tech Co..

The acquisition will allow Technoprobe to integrate the advanced printed circuit boards into its manufacturing process

Cernusco Lombardone (LC), July 3, 2023 - Technoprobe S.p.A., a leading company in the design and production of probe cards ("Technoprobe") listed on Euronext Milan, announces to have signed today a binding offer for the acquisition of 100% of the capital of Harbor Electronics, a company specialized in the production of printed circuit boards for the testing market from the group headed by Shenzhen Fastprint Circuit Tech Co..

Under the terms of the offer, which provides for an exclusivity period of 30 days to finalize and sign the final acquisition agreement, Technoprobe will pay a total amount of approximately USD 50 million net of any adjustments related to changes in the availability of cash of the target company.

Harbor Electronics, a company founded in the '80s in Santa Clara, California, and acquired in 2015 by the group headed by Shenzhen Fastprint Circuit Tech Co., is a leading manufacturer of advanced printed circuit boards for testing systems for major semiconductor manufacturers.

In the fiscal year ended at December 31, 2022, Harbor Electronics recorded revenues of approximately USD 52 million, a gross operating margin at approximately 16% and a net financial position of approximately USD 5 million.

Thanks to the acquisition, Technoprobe will further strengthen its technological skills in the field of testing, vertically integrating its production process, thanks to the in-house creation of advanced printed circuits for its probe cards and Final Test Boards.

Stefano Felici, Group Chief Executive Officer, said: "The acquisition of Harbor Electronics is a key strategic pillar that allows us to consolidate the vertical integration of the manufacturing process of our probe cards by leveraging huge technological synergies of two important players in the testing field. In addition, Harbor Electronics' distinctive competencies will enable us to enhance our knowledge in the Final Testing segment.".

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This press release is available on Technoprobe's website https://www.technoprobe.com, in the Investor Relations section and on the authorized storage system named eMarket Storage" ().

Technoprobe S.p.A. Via Cavalieri di Vittorio Veneto, 2 23870, Cernusco Lombardone (LC) - Italy www.technoprobe.com

Contacts

Technoprobe S.p.A. Technoprobe S.p.A. Ines Di Terlizzi Paolo Cavallotti

Investor Relator Communication & Marketing Manager Email: ir@technoprobe.com Email: paolo.cavallotti@technoprobe.com

Technoprobe Group

Technoprobe is a leading company in the field of semiconductors and microelectronics. Established in 1996 by the entrepreneurial spirit of its founder Giuseppe Crippa, Technoprobe specialises in the design and manufacture of Probe Cards, i.e. electro-mechanical interfaces used for the functional testing of chips. Its market segment is the testing of non-memory or SOC (system on chip) semiconductors. The Group is the only Probe Card manufacturer in Italy and a world leader in terms of volume and turnover. It has partnerships and collaborations with some of the world's largest microelectronics, IT and digital companies. Probe cards are hi-tech devices that are custommade for each chip and allow the function of chips to be tested during the manufacturing process. These technologically-advanced designs and solutions are essential for ensuring the proper functioning and reliability of devices that play a crucial role in industries such as Information Technology, 5G, Internet of Things, home automation, automotive, aerospace, etc. As a result, Technoprobe is a critical link in the supply chain for the manufacture of chips, which are at the heart of today's technological world. Technoprobe is a rapidly expanding hub of technological research and innovation with approximately 2700 employees (1700 of them located in Italy), three research centres and more than 600 certified patents. Technoprobe has 14 locations worldwide. The Group's Italian headquarters are in Cernusco Lombardone (LC), a municipality on the outskirts of Milan where there is also a production plant that covers an area of about 18,000 sqm. The Group has two additional production plants in Italy: one in Agrate (MB) covering about 3,000 sqm, and one in Osnago (LC) covering about 5,000 sqm. Also in Italy a Design Center was opened in Sicily, in Catania, in 2022. The Group also has 10 other locations spread across Europe (France and Germany), Asia (Taiwan, South Korea, China, Japan, Philippines and Singapore) and the United States (two locations in California).