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Trilegal Advised Globetronics Technology Berhad On OSAT Venture In India
Trilegal Advised Globetronics Technology Berhad On OSAT Venture In India Trilegal, has recently advised Globetronics Technology Berhad, a Malaysian public listed company, on a significant technology provision transaction aimed at facilitating the establishment of an Outsourced Semiconductor Assembly and Testing (OSAT) business in India. The transaction involved Globetronics Technology...
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Trilegal Advised Globetronics Technology Berhad On OSAT Venture In India
Trilegal, has recently advised Globetronics Technology Berhad, a Malaysian public listed company, on a significant technology provision transaction aimed at facilitating the establishment of an Outsourced Semiconductor Assembly and Testing (OSAT) business in India. The transaction involved Globetronics Technology Berhad partnering with Kaynes Semicon Private Limited, a subsidiary of Kaynes Technology India Limited, a publicly traded corporation.
Kaynes Semicon, established on May 15, 2023, is embarking on ambitious plans to establish an OSAT Business in India, and the recent transaction represents a significant stride towards achieving this objective. Globetronics Technology Berhad, renowned for its expertise as an integrated contract manufacturer of semiconductor-based products and services, will extend technical services to Kaynes Semicon through this agreement.
Additionally, the transaction involves Globetronics Technology Berhad reinvesting a portion of the contract value into Kaynes Semicon, thereby strengthening their partnership. This investment, subject to customary protections such as exit clauses, aims to safeguard the interests of both parties and supports the partnership's objective of establishing a center and supply chain for the development of the OSAT business in India, specifically catering to the automotive and industrial segments.
The deal, valued at US$7.59 million, entails ISO Technology Sdn Bhd, a wholly-owned subsidiary of Globetronics Technology Berhad, providing technical services for outsourced semiconductor assembly and testing to Kaynes Semicon. Moreover, ISO Technology plans to reinvest US$5.28 million into Kaynes Semicon’s securities.
The advisory team from Trilegal, led by Corporate Partner Sanjam Arora, played a pivotal role in facilitating this landmark transaction. The team, comprising attorneys Anisha Bhattacharjee, Jagrati Gupta, and Senior Associate Prashant Khurana, meticulously navigated the legal intricacies involved in the deal, ensuring a seamless execution.
The collaboration between Globetronics Technology Berhad and Kaynes Semicon Private Limited, facilitated by Trilegal, marks a significant milestone in the semiconductor industry, heralding a new era of technological innovation and partnership in India.