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China-backed investment fund to acquire Xcerra for $580 million

Unic Capital Management, a subsidiary of China's Sino IC Capital, will be acquiring U.S. semiconductor testing company, Xcerra Corp, for $580 million in cash, Deal Street Asia has reported. Sino IC Capital was established in August 2014 and has approximately $20.9 billion in funds under management to invest in the semiconductor space. The deal is subject to CFIUS approval and is expected to close by the end of the year. Xcerra was advised by Cowen and Company LLC and Latham & Watkins LLP. Sino IC was advised by Grant Thornton International and Wilson Sonsini Goodrich & Rosati.

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Xcerra Corp,semiconductors,China,Unic Capital Management,Sino IC Capital,private equity,PE deals,Cowen and Company LLC