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- Cirtek Holdings acquires local tech company
- Cirtek Holdings to acquire Remec Broadband
- Cirtek buys tech manufacturing firm
- Cirtek acquires IT product maker
- Cirtek, Remec seal $10-M purchase seal
- Cirtek Electronics targets sales of $100 million
- Cirtek on track for $100-million sales
- Cirtek expects $100-m revenues
- Semiconductor maker Cirtek buys Remec Broadband Wireless
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- Cirtek unit partners with German firm
- Cirtek shares up sharply after listing debut
- Cirtek starts share offer today
- Cirtek shares up 13.57% on listing
- Telefunken taps Cirtek unit to supply power regulators
- Cirtek Holdings Philippine Corporation conducts maiden listing
- Cirtek takes in Telefunken of Germany as tech partner
- October (8)
- Cirtek drops BDO Capital as underwriter for IPO
- Cirtek to push through with IPO
- Semiconductor firm Cirtek still keen on P660-M IPO
- Cirtek bullish despite exports drop
- Company doubling plant’s chip capacity
- Cirtek to brave stock market next month for listing debut
- Cirtek expands reach in Europe, inks deal
- Electronics firm carves out niche in slumping market
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- 2009
News & Updates
Cirtek acquires IT product maker
Cirtek Holdings Philippines Corp., a Laguna-based semiconductor assembly and test company, said it acquired a local manufacturer of integrated technology products to expand its production line.
Cirtek in a disclosure to the stock exchange said wholly-owned unit Cirtek Electronics International Corp. signed a share purchase agreement to acquire 100 percent of Remec Broadband Wireless Holdings Inc. It did not disclose the value of the transaction.
Remec Broadband, which is also based in Calamba, Laguna, develops and manufactures telecommunications infrastructure products for voice, video and data transfer over wireless networks.
It offers wireless modules and systems as well as radio frequency, microwave and millimeter wave products.
Cirtek said the acquisition would enable the company to expand its product and technology portfolio and enhance manufacturing capacity and capability.
It said the deal would also give Cirtek the ability to provide customers with vertically integrated solutions from component, module, to system level and boost its presence in the high-growth wireless communication space.
“The acquisition at the consolidated level will result in an increase in the balance sheet, higher sales and higher profitability for Cirtek,” the company said.
Cirtek recorded a net income of $2 million in the first half, up 12 percent from $1.8 million a year ago as revenues grew 11 percent to $21.4 million from $19.3 million.
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