HONG KONG -- ASM Pacific Technology continued its consolidation of the SMT process equipment market, acquiring DEK in a deal that is pending regulatory approval.

DEK had revenue of $167 million in 2012 and employs more than 700 workers worldwide. The companies did not disclose the purchase price or expected closing date, but said the deal is pending antitrust approval.

"Through this acquisition, ASMPT continues its growth strategy to become the equipment supplier for the complete electronics production chain," ASM said in a press release.

ASM plans to integrate DEK into its Pre-Placement business segment, to be led by current DEK CEO Michael Brianda. Günter Schindler, COO of Siplace, the placement group, will assume management of the Placement division. Both will report to Günter Lauber as CEO of the SMT business segment. 

“All of us look forward to welcoming the DEK team at ASMPT," said WK Lee, CEO of ASMPT. "We share a very similar culture of innovation. Together we will become even stronger for the benefit of current and new customers. I am confident that DEK and Siplace will be able to create completely new approaches in the SMT business.”

The deal did not come as a surprise to market watchers: ASM has been considered the frontrunner for months after a rumored deal with ITW failed to materialize. It's the second major deal to take place this year, following the merger of Juki and Sony.

The companies did not comment on what the deal would mean for any specific equipment lines, including Siplace's screen printer, announced earlier this year.

ASM acquired Siplace from Siemens in 2011.

Late last year DEK's parent company, Dover Corp., had announced its intention to find a buyer for DEK.