A Chinese state-backed investment fund on Tuesday made a $580 million bid to acquire US semiconductor testing firm Xcerra, sending a clear signal to the market that its interest in foreign chipmaking assets remains despite increased scrutiny from foreign regulators.
Xcerra, a Massachusetts-based and Nasdaq-listed company, has received a $10.25-per share cash offer from a subsidiary of China Integrated Circuit Industry Investment Fund, the country’s leading industry fund. The fund was set up in October 2014 to support the development of the domestic semiconductor industry.
While the transaction size is not as large as some of the fund's previous deals, it is sure to draw attention...