Beijing-based private equity firm Wise Road Capital is reportedly considering the sale of Singapore-based semiconductor assembly and testing company UTAC Holdings Ltd., in a deal that could be worth around $3 billion, according to sources cited by Bloomberg on April 23.

Sources say the firm has hired advisors to explore strategic options for UTAC, though discussions are still in the early stages and Wise Road may ultimately decide not to proceed with the sale. Neither Wise Road Capital nor UTAC has commented on the report.

UTAC is one of the leading global providers of semiconductor packaging and testing services. Headquartered in Singapore, it operates eight facilities across Singapore, Thailand, mainland China, Indonesia, and Malaysia, and employs more than 10,000 people worldwide. The company is particularly strong in automotive-grade QFN, SiP, and fan-out packaging technologies, with a core focus on analog, mixed-signal, and sensor devices. In automotive semiconductor packaging, UTAC ranks third globally, behind only Amkor and ASE.

The company serves many of the world's top semiconductor firms, most of whom have maintained partnerships with UTAC for over a decade, reflecting the stability of its client base.

Wise Road Capital, a global private equity firm focused on semiconductors and emerging high-tech sectors such as automotive electronics, IoT, robotics, and sustainability, acquired UTAC in 2020 from Affinity Equity Partners and TPG Inc. The terms of that transaction were not disclosed.

The potential sale is seen by some industry observers as part of a broader strategic shift by Wise Road Capital, possibly aimed at reallocating capital toward other high-growth opportunities amid a rapidly evolving semiconductor landscape. If the transaction proceeds, it could also open the door for UTAC to bring in a new strategic investor and pursue fresh growth in technology and global market expansion.

Despite its early stage, the proposed sale has already drawn attention across the semiconductor industry, as companies and investors closely watch for how it may reshape the competitive dynamics of the backend semiconductor supply chain.