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Silicon Turnkey Solutions Joins Micross Components(PR Web Via Acquire Media NewsEdge) Southlake, Texas; Orlando, Florida; and Milpitas, California (PRWEB) November 06, 2014 Insight Equity Holdings LLC ("Insight Equity"), the Southlake, Texas private equity firm, is pleased to announce that one of its portfolio companies, Micross Components ("Micross"), has acquired Silicon Turnkey Solutions ("STS"). STS has been a leader in the high-reliability ("hi-rel") semiconductor test sector for over a decade, offering Integrated Circuit ("IC") design, packaging, qualification, and testing for the most extreme applications. Victor Vescovo, Chief Operating Officer and Managing Partner for Insight Equity, notes that "STS is a unique company built upon proactively devising solutions to meet highly complex technical challenges with a strong reputation for quality and customer service which makes them an excellent addition to the Micross family. Insight's long-term outlook on the hi-rel semiconductor sector remains positive; we believe that the combination of Micross and STS will significantly broaden our presence in this market, building on the expertise of STS in bringing highly sophisticated ASIC, FPGA, and RF components to market." Richard Kingdon, Micross Chief Executive Officer, adds "This is a very exciting partnership for Micross. While serving different segments of the semiconductor industry, Micross and STS share common values of integrity, customer focus, and market responsiveness. Through this transaction, Micross will further strengthen its product and service offerings, plus significantly enhance its presence on the US West Coast. STS will operate as a separate division within Micross, under the ongoing leadership of Zef Malik, Larry Jorstad, and the very capable STS organization." Zef Malik, President and CEO of STS, concludes "Joining Micross will provide STS and its product divisions, Silicon360 and Hi-Reliability Microelectronics Inc., rapid access to strategic markets and customers, including Europe, through leveraging a broader portfolio of capabilities in package assembly, die and wafer management, SMD, CSP, and custom product solutions. We are excited for the opportunity to continue to strengthen the core capabilities offered to our valued customers whom we have served for the last two decades." GTK Partners served as the exclusive financial advisor to STS on this transaction. About Micross Components: Micross Components (http://www.micross.com) is a leading global provider of distributed and specialty electronic components for military, space, medical, and demanding industrial applications. Operating as a single source for high reliability and state-of-the-art electronics, Micross' solutions range from bare die and wafer processing to advanced and custom packaging to component modifications and related interconnect offerings. With a 35+ year heritage, Micross possesses the design, manufacturing and logistics expertise needed to support an application from start to finish. About Silicon Turnkey Solutions: STS (http://www.sts-usa.com) is an industry recognized collaborative partner that integrates design, engineering, manufacturing, test, and qualification processes with operational expertise to provide leading edge technology and services that enable customers to meet demanding time-to-market pressure, cost, and technical challenges in today's consumer, military, aerospace and green markets. About Insight Equity: Insight Equity (http://www.insightequity.com) makes controlling investments in strategically viable, middle market, asset intensive companies across a wide range of industries. Insight Equity specializes in partnering with companies in complex and challenging situations, including corporate divestitures, aggressive growth opportunities, restructurings, and transitions from private family ownership. The firm leverages a proven, collaborative value creation model to facilitate operating enhancements and growth. Insight Equity's headquarters is located near the Dallas / Ft. Worth International Airport in Southlake, Texas. The firm also has an office in New York City. Read the full story at http://www.prweb.com/releases/2014/11/prweb12306767.htm (c) 2014 PRWEB.COM Newswire |