1. WT Microelectronics Announces Merger with Excelpoint Technology for Product Promotion and Market Expansion

WT Microelectronics Co., Ltd. and Excelpoint Technology Ltd. have entered into an agreement, whereby WT will acquire 100% of the share capital of Excelpoint for over SGD 232.2 million. This transaction is expected to conclude in the third quarter of 2022. The combination of customer bases will significantly enhance distribution capabilities and expand WT’s customer portfolio in the Asia-Pacific region.

2. Automakers Anticipate Prolonged Chip Shortage Until End of 2024

The CEO of BMW, Oliver Zipse, stated that the automotive semiconductor shortage might persist until 2023. To address the scarcity, BMW has entered into an agreement with Inova Semiconductors and Globalfoundries Inc. to secure an annual supply for millions of chips. Volkswagen’s CFO, Arno Antlitz, foresees the semiconductor shortage continuing into 2024 as chip manufacturers won’t be able to meet the rising demand for semiconductors even with increased chip production.

3. Littelfuse Merges with C&K

Littelfuse Inc., a manufacturer of circuit protection products, electronic switches, and automotive sensors valued at $2.1 billion, has announced the acquisition of C&K Switches, a switch manufacturer, for $540 million. This transaction is expected to be completed in the second quarter of 2022. The acquisition of C&K is part of Littelfuse’s long-term growth strategy to expand its business operations through organic growth and acquisition strategies.