Taiwan, Hsinchu – September 7, 2015 – MediaTek Inc. (TSE: 2454) announced its Board of Directors had approved a Letter of Intent (“LOI”) alongside Richtek Technology Corporation (TSE: 6286; hereinafter “Richtek”) today. Per the LOI, MediaTek and/or its subsidiaries in addition to affiliates (collectively in addition to individually, hereinafter, “MediaTek”) shall launch a tender offering for Richtek mutual stock.
Under the tender offer, MediaTek plans to teach a minimum of 51,981,057 shares (approximately 35% of Richtek’s outstanding shares) to a maximum of 75,743,826 shares (approximately 51% of Richtek’s outstanding shares) for NT$195 per share. Upon completion of the tender offer, MediaTek plans to farther teach 100% of Richtek’s outstanding shares in addition to it is instantly expected to live on completed at the mo quarter of 2016, bailiwick to relevant regulatory approvals.
“As a global leader alongside meaning presence inward smartphones, tablets, in addition to the digital home, MediaTek offers tremendous growth opportunities for ability management related products through the cross-platform advantage,” said Mr. Ming-Kai Tsai, MediaTek Chairman & CEO. “Richtek is a leader inward analog ICs in addition to provides comprehensive ability management solutions to satisfy diverse client demand, backed past times an experienced management in addition to R&D team. We believe, through the deal, the competitive edges of both companies volition live on leveraged to maximize the platform synergy, strengthen MediaTek inward Internet of Things segment in addition to farther lift MediaTek’s competitiveness inward the fast-changing in addition to ever-competitive global semiconductor market.”
“MediaTek in addition to Richtek are highly complementary inward ability management IP in addition to products which creates a leadership seat inward this field,” said, Mr. Kenneth Tai, Richtek Chairman. “As specifications for terminate products function out along to upgrade, the requirements for integrated ability management solutions function out to a greater extent than complex in addition to diversified. By leveraging MediaTek’s platform leadership, Richtek aims to farther optimize ability management surgical physical care for on the arrangement flat to enable competitive products for customers in addition to farther expand analog IC offerings to propel the fellowship into its adjacent phase of growth.”
Moving forward, MediaTek strives to educate upon its cross-platform leadership to provide customers alongside innovative production solutions in addition to growth our shareholder’s value.
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About MediaTek
MediaTek Inc. is a pioneering fabless semiconductor fellowship founded inward 1997. Through years of innovation, MediaTek is instantly a global leader inward IC design, providing cutting-edge systems on a fleck (SoC) solutions inward wireless communication, WIFI, HDTV, DVD, in addition to Blu-Ray. Our integrated fleck designs assist manufacturers optimize render chains, cut down evolution time, in addition to provide a competitive border inward e'er crowded markets. Entering the IoT age, MediaTek has formed a novel conception incubator, MediaTek Labs, alongside goals of providing production in addition to technology back upwards to innovators world-wide who looks to practice novel exciting terminate applications inward the IoT market.
MediaTek's mission is to lift life on the world in addition to enrich countless lives, therefore that 1 solar daytime inward the close hereafter everyone has the jeopardy to live on an Everyday Genius.
For to a greater extent than information, delight see www.mediatek.com.
About Richtek
Richtek Technology Corporation is 1 of the world’s leading analog IC companies. The fellowship consistently delivers inventive ability management solutions that amend the surgical physical care for of consumer electronics, computers, in addition to communications equipment. Richtek adds value to terminate equipment past times synthesizing technological innovation, uncompromised quality, in addition to devotion to client service. Founded inward 1998, the Company is headquartered inward Taiwan alongside additional offices inward Asia, the U.S., in addition to Europe. Richtek is publicly traded on the Taiwan Stock Exchange nether the heart symbol 6286. For to a greater extent than data nigh Richtek in addition to its analog IC solutions, delight see www.richtek.com.
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