Sancode unit to acquire 100% of Philippines semiconductor company CEC
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Sancode Technologies' subsidiary Sancode Semi Private has agreed to buy all 155,511,959 shares of Cirtek Electronics Corporation (CEC) for USD 20.2 million in cash. The first payment of USD 11.32 million is due at closing and the second USD 8.88 million within one year. CEC provides semiconductor packaging, assembly and testing; turnover was USD 26.62 million in FY2025, up from USD 23.08 million in FY2024. The deal is subject to conditions and filings, and is intended to add technology, customers and know-how.
The deal could expand Sancode's semiconductor capabilities, customer reach and revenue, but benefits depend on closing, integration and execution; cash outflow is USD 20.2 million.