China Wafer Level CSP Co., Ltd. and Suzhou Jingfang II Integrated Circuit Industry Fund Partnership (Limited Partnership) agreed to acquire 34.25% stake in VisIC Technologies Ltd. for $50 million.

China Wafer Level CSP Co., Ltd. (SHSE:603005) and Suzhou Jingfang II Integrated Circuit Industry Fund Partnership (Limited Partnership) agreed to acquire 34% stake in VisIC Technologies Ltd. for $50 million on October 28, 2022. China Wafer Level CSP Co., Ltd. and Suzhou Jingfang II Integrated Circuit Industry Fund Partnership (Limited Partnership) agreed to acquire 3425% stake in VisIC Technologies Ltd. for $50 million on November 16, 2022. Pursuant to the transaction, China Wafer Level and Suzhou Jingfang II will pay $26.37 million and $23.63 million cash, for their respective 18.06% and 16.19% stake in VisIC.

Following this transaction, China Wafer Level will hold 18.06% stake and Suzhou Jingfang II will own 33.31% stake in VisIC. The 4th session of the China Wafer LevelÆs 5th directorate approved the transaction.