Sanan Optoelectronics wholly-owned subsidiary 226 million US dollars to acquire GCS
Sanan Optoelectronics (600703) released the "Investment of Foreign Investment of the Subsidiary Subsidiary" on the evening of April 1st, stating that the company's wholly-owned subsidiary Sanan Integration Co., Ltd. established a wholly-owned subsidiary under the laws of the Cayman Islands with its own monetary funds of 22,600. US$ 10,000 is the only payable consideration for the acquisition of 100% of the entire equity interest in GCS HOLDINGS, INC. (based on fully diluted, fully exercised basis), including (but not limited to) all ordinary shares that have occurred and are outstanding. The two parties signed the "Merger Agreement and Plan."
According to the announcement, GCS was established in Torun, California, in 1997, and is listed on the counter of Taiwan Securities Counter Trading Center (TPEX) (code 4991), mainly engaged in gallium arsenide / indium phosphide / gallium nitride high-order RF and optoelectronics Component compound semiconductor wafer fabrication, related intellectual property rights licensing and advanced optoelectronic products research, development, manufacturing and sales, providing a full range of services from product concept, technology research and development, product trial production to mass production. In addition to its own process technology, GCS also provides complete plant input services, including process technology transfer, verification, product trial production to mass production services. The end uses of the foundry products range from communications, power, medical, industrial and aerospace.
Through nearly two decades of technology accumulation, GCS has a complete and advanced process, and its technology is ahead of its peers.
According to the announcement, in accordance with the terms and conditions of this agreement, Sanan Integration Company established a wholly-owned subsidiary under the company law of the Cayman Islands. The wholly-owned subsidiary merged with GCS. After the merger, GCS became the merged company and became the third. A wholly-owned subsidiary of An Integrated Company.
The company said that the investment and merger GCS is in line with the development plan of the listed company. After the completion of the merger, it can quickly drive Sanan's technical level and patent platform across RF communication and optical communication components, advanced international management concepts, and a broad international customer network and company. The existing business technology and production capacity complement each other, which provides a strong guarantee for listed companies to rapidly upgrade their technological capabilities, expand new business scope and open up domestic and overseas markets. It will help accelerate the development of listed companies' integrated circuit business and expand their business scope. Scale to improve the profitability and core competitiveness of listed companies.
China Merchants Securities recently released a research report that the target company is the world's leading compound semiconductor wafer fabrication service provider. Sanan Optoelectronics' wholly-owned subsidiary completely acquired the target company for US$226 million, becoming the first time for listed companies' compound semiconductor cross-border mergers and acquisitions. Big handwriting. With the support of the National Integrated Circuit Industry Fund, the development of compound semiconductors has become the core business of Sanan Optoelectronics. It is believed that listed companies will continue to lay out this field. Compared with silicon-based semiconductors, the compound semiconductor technology in mainland China is far from the overseas, and overseas mergers and acquisitions are an effective means to make up the gap.
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