By Greg Gao

(JW Insights) Jul 6 -- Fastprint Circuit Tech(兴森科技), a Chinese maker of printed circuit boards, plans to sell its American subsidiary Harbor Electronics to Technoprobe, an Italian probe card manufacturer, for $50 million, reported Yicai Global on July 5.

Technoprobe will acquire all of Harbor Electronics' equity, the Shenzhen-based seller said in a statement on July 4, citing a letter of intent signed by the two parties. It did not disclose why it is selling the unit to the Lombardy-based company. The pair will ink a transaction agreement within 30 days.

Fastprint invested $23 million in acquire the California-based semiconductor testing business, including its customer contracts, from Nasdaq-listed Xcerra in 2015. Harbor Electronics has market advantages and the purchase should help Fastprint achieve one-stop service capabilities in chip testing, the buyer said at the time.

Founded in 1999, Shenzhen-based Fastprint went public on Shenzhen Stock Exchange in 2010. It has three manufacturing campuses in Guangzhou, southern China’s Guangdong Province and Yixing, eastern China's Jiangsu Province and the UK, respectively.

(Yuan XY)