INTEGRATED Micro-Electronics (IMI) sells its entire 80 percent stake in STI Enterprises Limited to Sand 2023 Limited, an affiliated entity of Rcapital, for a net consideration amount of approximately 2.2 million British Pounds.
This initiative is in line with IMI’s ongoing strategy to consolidate its portfolio, focusing on its growth and profitability within its priority markets of mobility, connectivity, and smart energy.
IMI core businesses in its wholly-owned subsidiaries have been profitable since 2021 and the simplification of IMI’s operations will allow for tighter management focus and capital allocation as the company navigates today’s challenging macroeconomic and geopolitical environment.