(Alliance News) - Technoprobe Spa announced Tuesday that it has finalized the acquisition of Harbor Electronics, a company specializing in the production of printed circuit boards for the testing market, from the group headed by Shenzhen Fastprint Circuit Tech Co.

Under the contract terms, Technoprobe will pay a total amount of about USD50.0 million.

The transaction will be finalized without recourse to debt.

Harbor Electronics, a company founded in the 1980s in Santa Clara, California, and acquired in 2015 by the Shenzhen-headquartered Fastprint Circuit Tech Co. is a leading manufacturer of advanced printed circuit boards for testing systems for major semiconductor manufacturers.

The acquisition, Technoprobe explains, will allow the company "to further strengthen its technological competencies in the field of testing by vertically integrating its production process through the in-house production of advanced printed circuit boards for its probe cards and Final Test Boards."

Stefano Felici, chief executive officer of Technoprobe, commented, "We are proud to have finalized the acquisition of Harbor ElectroniCredit Suisse and pleased to continue to collaborate with Fastprint. The synergies from the acquisition will allow us to continue to grow in the testing market including through our entry into the Final Testing segment."

Christoper Cuda, chief executive officer of Harbor Electronics, commented, "The acquisition by Technoprobe gives us access to new resources and markets and thus further expands our expertise in PCB manufacturing for probe boards, with the goal of increasingly supporting the semiconductor test market. Our engineers, production staff, and support team at Harbour look forward to working with and continuing to grow with Technoprobe."

Technoprobe's stock is up 1.5 percent at EUR8.17 per share.

By Chiara Bruschi, Alliance News reporter

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