China-backed fund to acquire US chip firm Xcerra for $580m

China-backed fund to acquire US chip firm Xcerra for $580m

A Chinese national flag flutters outside the headquarters of the People's Bank of China, the Chinese central bank, in Beijing, April 3, 2014. REUTERS/Petar Kujundzic

A unit of a large China-based semiconductor investment fund has agreed to acquire U.S. semiconductor testing company Xcerra Corp  for $580 million in cash, the companies said on Monday.

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