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San’an Optoelectronics Plans to Take over Huanyu Communication at 226 Million US Dollars

2016-03-11
San’an Optoelectronics announced on the morning of March 11 that its wholly-owned subsidiary San’an Integrated Circuit Co., Ltd (hereinafter referred to as San’an IC) planned to merge the Huanyu Communication Semiconductor Holdings Co., LTD (hereinafter referred to as “GCS” or “Huanyu”) which is a company incorporated in British Cayman Islands at the price of 226,000,000 US dollars and gain all GCS’s equities calculated on a fully diluted basis, including but not limited to the issued common stocks (including employees’ limited rights new equity), equities issued after the full transformation of convertible bonds and those issued after the full performance of employee stock option certificates. The two parities signed the Letter of Intent and agreed that before March 31, 2016, they will sign the merger agreement based on the agreed deal price and further agreed terms.

GCS was established in 1997 in Torun, California, USA. It was listed at Taiwan Over-the-counter Market (Stock code 4991) and mainly engaged in the manufacturing as an OEM of gallium arsenide/ indium phosphide/gallium nitride advanced radio frequency and photoelectric element compounds semiconductor wafer, related intellectual property rights authorization and the research and development, production and sales of advanced photoelectric products. The company provides full services from product concept, technological research and development and trial-production to mass production. 

Besides its own process technology, Huanyu also provides whole plant input service, including such services as transfer, verification, trial production and mass production. The company’s OEM products have a broad range of terminal applications covering communication, power, medical field, industry and aviation. Two main production lines of Huanyu differ in respect of RF wafer manufacturing; the products’ terminal uses mainly apply to power amplifiers, voltage-controlled oscillators, RF switches and relevant RF components needed by mobile communication base stations and related radio frequency infrastructures. With regard to photovoltaic wafer manufacturing, the products go into their terminal applications mainly including telecoms networks, data networks and fiber subscribers-related photoelectric elements. Through nearly 20 years of technological accumulation, Huanyu has complete advanced production processes and its technology keeps ahead of the peers.

This investment and merger is in line with the company’s development planning and layout., and can help San’an rapidly realize the complementation of RF communication, optical communication element technology and patent platform, advanced international management concept, broad international client network and its existing business technology and capacity. It will provide strong guarantee to the rapid ascension of technological capability in terms of integrated circuit, the expansion of new business scope and the improvement of profitability and core competitiveness, so as to bring profits and benefit to shareholders. 
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