Avi-Tech commenced operations on 1st July 1984 and was named as "One of the Promising Local Enterprise" by the Economic Development Board. Today, Avi-Tech is one of the region's leading supplier of semiconductor burn-in solutions. The company also handle electronics turnkey projects and trading in semiconductor related equipment for semiconductor manufacturing companies. The company is fully committed to serve its customers better by ensuring faster turnaround time, reliability, quality and optimum cost.
This pre-IPO deal is part of a management buy-out to take out an existing VC which has invested in the company much earlier. The CEO and largest shareholder of the company increased his stakes further in this pre-IPO round together with other investors in buying out the existing VC.
About Avi-Tech Electronics (S) Pte Ltd
AVI-Tech Electronics (S) Pte Ltd ["Avi-Tech"] is one of the region's leading suppliers of semiconductor burn-in solutions. We provide semiconductor burn-in services. We also design and manufacture burn-in boards, burn-in systems and testers.
Avi-Tech commenced operations in 1984 by providing burn-in board manufacturing and repair services to semiconductor makers. The company, which has around 240 employees currently, started with a staff strength of 20 occupying a leased space of 800 square metres. Since then, sales have grown by over 30 per cent every year, with turnover reaching $58 million in 1998.
Avi-Tech now operates from its own factory, which has a floor area of more than 12,000 square metres. It houses all of our operating divisions under one roof. We have also expanded our business over the years to include electronics turn-key projects and trading in semiconductor-related equipment for semiconductor producers. Most of our customers are MNCs from the US and Europe, and also emerging MNCs from Taiwan. These companies have not been too adversely hit by the economic crisis. Fortunately, sales are conducted in US dollars to these customers.
In 1998, Avi-Tech developed a new burn-in system which was well accepted by the semiconductor manufacturers in Singapore and Taiwan. This helped to boost the sales of our burn-in services and equipment. Last year, Avi-Tech attained the Singapore Quality Class, enhancing our image in the eyes of our customers. In addition, the National Computer Board awarded us the Y2K-in-action logo this year as a recognition of our commitment to achieve the millennium goal. With all these in place, we are confident that we'll be able to boost our market presence in the years to come.
About W3 Infocomm Group Pte Ltd
W3 Infocomm Group is an investment holding company with sterling track records in investing and raising subsequent round funding for start-ups and early stage companies. With some of its portfolio companies now actively in the process of M&A and IPO, W3's investment focus has shifted from what was primarily early stage investment in infocomm and media companies to quality investments in late stage, pre-IPO and pre-trade sales companies. Shareholders of W3 and its investee companies include Temasek Holdings (Pte) Ltd [via its 100% held Greendot Capital Pte Ltd], SingTel Group, Singapore Technologies Electronics Ltd, Gemplus-EDB Smart Labs Pte Ltd and PrimePartners Group, a US$300 million venture capital fund.