|Charissa Echavez |||Sep 26, 2016 08:42 PM EDT|
(Photo : YouTube Screenshot) Beijing Shanhai Capital Management offered a takeover bid to chip maker Analogix Semiconductor in a deal worth more than $500 million.
Following a number of high-profile attempts to acquire a U.S. semiconductor maker, recent news reveals that Beijing Shanhai Capital Management offered a takeover bid to chip maker Analogix Semiconductor in a deal worth more than $500 million.
"We are very happy to have reached this agreement, which provides significant value to shareholders. The financial support of Shanhai Capital propels our growth while maintaining the direction, organization, and determination to serve our customers," Kewei Yang, Chairman and CEO of Analogix Semiconductor, said in a statement.
Like Us on Facebook
Meanwhile, Xianfeng Zhao, chairman of Beijing Shanhai Capital Management, is also pleased of the deal and is "looking forward to facilitating Analogix's continued growth."
"With the added investment, we can leverage the strength of the company's core technology and business expertise, extend our business into adjacent high-growth markets, and build a world-leading semiconductor company," he continued, adding that Analogix will be expecting an IPO in China soon.
The National Integrated Circuit Industry Investment Fund also joined with Beijing Shanhai Capital as one of the limited partners, China Tech News reported. The over half-a-billion dollars deal is still subject for regulatory approval from authorities and is expected to be completed later this year.
The Santa Clara, California-based Analogix manufactures high-speed, mixed-signal chips to be utilized in cellular phones, virtual/augmented reality, and other cutting-edge devices. According to Tweak Town, it has high-profile customers including Apple, Samsung, Microsoft, Google, Lenovo, to name a few.
However, Analogix, which is privately owned by venture investors such as Woodside Fund and DCM, is only established in 2002 and is relatively young compared with China's previous public acquisition targets, Forbes noted.
Although the country is the biggest consumer of such chips that power almost everything, it failed to compete fiercely with U.S. giants with the likes of Qualcomm and Intel and Asian leaders including South Korea's Samsung and Taiwan's TSMC.
But if Analogix and Beijing Shanhai Capital's deal meets less political resistance, China could finally see an end to its quest of acquiring a foreign chipmaker, Investopedia noted.
©2015 Chinatopix All rights reserved. Do not reproduce without permission
China's former Chief of the Ministry of Public Security, Zhou Yongkang, has been given a life sentence after he was found guilty of abusing his office, bribery and deliberately ... Full Article
China Pork Prices Expected to Stabilize As The Supplies Recover
Elephone P9000 Smartphone is now on Sale on Amazon India
There's a Big Chance Cliffhangers Won't Still Be Resolved When Grey's Anatomy Season 13 Returns
Supreme Court Ruled on Samsung vs Apple Dispute for Patent Infringement
Microsoft Surface Pro 5 Rumors and Release Date: What is the Latest?