Vietnam venture group invests in IC services firm
02-MAY-2008 Intellasia | EE TIMES Asia
May 2, 2008 - 6:00:06 AM
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Semiconductor services company GES Inc. has received the first of a dual-round of financing led by IDG Ventures Vietnam (IDGVV), with Japan's IT-Farm Growth Investment Limited Partnership and other private investors. The financing is targeted for expansion of its global customer base and operational assets, including clean-room equipped facilities in Vietnam.
"GES provides a very attractive addition to our technology investment portfolio, and it also marks the first IDGVV investment in the semiconductor sector. We want to help grow Vietnam's emerging role in the global semiconductor value-chain and supporting GES' global expansion is the first step. IDGVV is firmly committed to helping ensure the success of such emerging companies based in Vietnam with opportunities to serve the global market," said Henry Nguyen, IDGVV's managing general partner.
GES will leverage the investment along with the deep resources of its Vietnam business operations to bring more value added services to its global customers.
"Semiconductor, FPD and emerging solar cell manufacturing are industries with growing demand for innovative services to improve efficiency and increase margins. GES brings a unique engineering service model and manufacturing solutions to the current business challenges in these market segments. We are pleased to support the company's ambitious goals for addressing demand from its many leading technology customers," said Morio Kurosaki, CEO of IT Farm Corp.
Separately, GES also successfully raised funds from several real estate investors for the construction of its 100,000 sq. ft. technology and manufacturing centre located next to Intel's IC assembly and test plant in the Saigon Hi-Tech Park.
"The funds come at a high point for GES as we prepare to provide turn-key manufacturing service to our partners. With the infusion of capital, and invaluable advice from these investment firms, we expect substantial growth of our service portfolio to address the rising demand for our services," said Don Tran, CEO of GES.
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