AEM Singapore, the wholly-owned subsidiary in AEM Holdings, has acquired 26.59% of the outstanding share capital of ATECO Inc. for a consideration of US$3.8 million ($5.1 million) in cash.

ATECO Inc. is a South Korean company that specialises in the design and development of memory test handler solutions targeted at the memory market.

As part of the investment, AEM has been granted the rights to acquire further shares in ATECO, which means it now has a 65% stake in the latter.

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