MANILA, PHILIPPINES -- Integrated Micro-Electronics Inc. and Narra Venture Capital II have signed an agreement to acquire of 67% of PSi Technologies, an independent semiconductor assembly and test-service provider, in a deal valued at $30 million.

Once completed, the deal will give IMI a 56% stake in PSi, while NarraVC will own 11%.

IMI president and chief executive Arthur Tan said, “With the growing convergence of power semiconductor assembly and test services and EMS, the impending purchase of PSI Technologies will enable the IMI group to enhance its service offering to its OEM customers.”

IMI called PSi's revenues "healthy," but said the results are not expected to be significant through this year."

PSi's MCM technology addresses miniaturization in electronics devices.

IMI, a leading electronics manufacturing services (EMS) provider and member of the Ayala Group, ranked 24th in last year's CIRCUITS ASSEMBLY Global Top 50.

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