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South Korean chemical giant SKC Co. Ltd., announced plans to acquire a 12% stake in Chipletz, a US-based chip packaging startup. This strategic move aligns with SKC’s shift towards chip testing and battery materials. The investment, set via Series B funding, aims to expedite SKC's chip post-processing endeavors.
It was reported that SKC Co. is making this acquisition move as part of its plan to shift to the chip testing and battery materials business. The company also hopes that with the purchase of Chipletz stake, it can speed up its chip post-processing push.
SKC’s plan for stake acquisition was revealed on Monday, Sept. 11. According to Yonhap News Agency, the investment in the Austin-headquartered fabless firm that will give the company a 12% share is set to be coursed through a Series B funding and SKC confirmed this.
Then again, while SKC provided some information about its stake purchase in Chipletz, it did not disclose the exact investment amount. The firm said it is not sharing the financial details as agreed in the contract.
The Korea Economic Daily mentioned that Chipletz started its business as an internal venture company of Advanced Micro Devices Inc. (AMD) in 2016. In 2021, it was spun off as a separate company that develops smart substrate technology that supports the fusion of almost any die from manufacturers. Likewise, it designs chip substrate packaging for artificial intelligence (AI) and high-performance computing.
Meanwhile, the company was founded by Bryan Black, currently serving as Chipletz CEO. He is said to be a chip packaging expert who gained 20 years of experience in the field after working for both AMD and Intel. It was said that AMD and ASE, a Taiwan-based chip assembly firm, are the main investors in Chipletz.
Photo by: Chipletz Website
