SINGAPORE (Feb 1): AEM Holdings has acquired Afore Oy, a microelectromechanical systems (MEMS) testing and handling solutions provider in Finland, for 7.58 million euros ($12.34 million).

In addition, AEM says its positive revenue guidance of at least $215 million remains unchanged, with sales orders in excess of $115 million already booked for delivery in 1H18.

However, it expects FY18 to outperform FY17, with revenue of at least $255 million and operating profit before tax of at least $42 million.

AEM says it is also considering a bonus shares issue to boost the liquidity of its stock.

In a Thursday filing, AEM says its latest acquisition is in line with the group’s strategy to accelerate and diversify its global growth.

“Afore Oy stands out as the most advanced MEMS test solution available for Wafer Level Chip Scale Packages (WLCSP), a fast emerging package technology capable of driving smaller, cheaper, and more complex MEMS based devices for the future,” says Loke Wai San, executive chairman of AEM.

In conjunction, the group has announced several changes among its board members and senior management team.

This includes the appointment of current COO Chok Yean Hung to succeed CEO Charles Cher, who is due to retire by 31 March and will remain senior advisor to the board until end 2018.

Shares in the group closed 3.3% higher at $4.97 on Thursday.