Silitech Technology Corporation (TWSE:3311) entered into an agreement to acquire Iwatsu (Malaysia) Sdn. Bhd. from Iwatsu Electric Co., Ltd. on March 31, 2023.

Silitech Technology Corporation acquired 40 million shares of Iwatsu (Malaysia) Sdn. Bhd. As of March 31, 2022, Iwatsu (Malaysia) Sdn.

Bhd. reported total assets of JPY 1.651 billion, revenue of JPY 1.730 billion, EBIT of JPY 114 million and net income of JPY 120 million. The deal is expected to close on July 31, 2023.