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U.S. company Microchip to acquire ISSC for NT$9.9 billion
Taiwan News, Staff Writer
2014-05-23 12:21 PM

Bluetooth chip company ISSC Technologies Corp. (5261) announced Thursday that the 100% held Cayman subsidiary of U.S. company Microchip Technology Incorporated, Microchip Technology (Barbados) II Incorporated, will acquire a 100% stake in ISSC at a 16.7% premium of NT$143 in cash per share for a total transaction of NT$9.9 billion. The deal is expected to be completed by year’s end. ISSC will cease to exist and delist from GreTai.

ISSC listed OTC in November last year and had been trading for less than six months before being acquired by Microchip. This breaks MStar Semiconductor’s record of 18 months for fasted acquisition after listing to become the Taiwan stock with the shortest listing lifespan.

This is the fourth merger in the domestic IC design industry this year and majority ISSC shareholder Realtek (2379) becomes the biggest winner, profiting to the tune of NT$830 million or approximately NT$1.64 to EPS.

ISSC stated that Microchip is a leading global supplier of microcontrollers and mixed signal and analog components. ISSC provides Bluetooth solutions so the two companies possess complementary technologies and products, and the merger will effectively enhance operational efficiency and market competitiveness.

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