AEM Holdings Ltd. (“AEM”), a global leader in test innovation, and ASE Technology Holding Co., Ltd. (“ASE”), a leading provider of semiconductor assembly, testing and materials services, announced a strategic partnership to deliver disruptive test solutions for the rapidly expanding artificial intelligence (“AI”) and high-performance computing (“HPC”) markets. The collaboration combines AEM’s proprietary test technologies with ASE’s world-class manufacturing scale to address the increasing complexity of advanced compute platforms.
Under the agreement, a wholly owned subsidiary of ASE will subscribe for 3,350,000 ordinary shares of AEM at S$3.591 per share, raising approximately S$12 million in gross proceeds. The subscription represents 1.06% of AEM’s issued share capital as of March 21, 2026. In addition, ASE will receive 28,111,856 free detachable warrants divided into two tranches, each subject to certain revenue-related conditions. The Tranche 1 exercise price is set at 103% of the volume weighted average price (“VWAP”) on the signing date, and Tranche 2 at 105% of such VWAP. If fully exercised, the warrants would result in an additional 8.935% of current issued share capital. The transaction is subject to conditions including Singapore Exchange approval for listing and quotation of new shares.
Proceeds from the private placement will support AEM’s expansion in Taiwan and the integration of its test technologies, including highly parallel test architectures and advanced thermal management capabilities, into ASE’s manufacturing and test environments. The funds will also advance AEM’s product roadmap and accelerate joint go-to-market initiatives for next-generation AI and HPC applications.
The partnership also supports ISE Labs, a wholly owned subsidiary of ASE, in expanding AI and HPC processor development capabilities for early-stage testing, validation, and characterization. These efforts focus on heterogeneous integration architectures, including multi-chiplet and advanced system-in-package designs, as well as optical interconnect technologies. ASE’s ATM portfolio provides high-volume advanced packaging and test capabilities for production-scale deployment.
Ken Hsiang, Chief Executive Officer of ISE Labs, stated, “As compute architectures grow more complex and time-to-production continues to compress, test has become a critical enabler of performance, reliability, and manufacturability for next-generation AI and HPC systems. By combining ISE’s advanced characterization and production-readiness capabilities with AEM’s scalable, high-parallel test technologies and system-level engineering strengths, this strategic partnership enables rapid transition from validation to ASE’s high-volume deployment while addressing the increasing complexity of advanced compute testing.”
Samer Kabbani, Chief Executive Officer of AEM, commented, “This partnership represents an important step in AEM’s strategy to work closely with industry leaders to advance the state of AI and HPC testing. ASE’s forward-looking approach and global scale make them an ideal partner as test requirements continue to intensify across advanced compute platforms. By combining our respective strengths, we aim to develop and deploy next-generation test solutions that help customers improve performance, scalability, and time-to-market.”
This strategic partnership underscores the growing importance of advanced test solutions in the semiconductor industry as AI and HPC applications demand higher performance and reliability. By leveraging each other’s strengths, AEM and ASE aim to accelerate innovation and meet the evolving needs of the market. More information about ASE can be found at https://www.aseglobal.com.
