In a strategic move to build upon cross-platform leadership and provide customers with innovative product solutions, MediaTek is looking to buy Richtek Technology and has made a tender offer to the company.
According to the press release, Mediatek plans to acquire a minimum 35 per cent shares to a maximum of 51 per cent shares valued for for NT $195 per share. The release also mentions that on completion of the tender offer, MediaTek plans to further acquire complete 100 per cent of Richtek’s outstanding by the end of second quarter of 2016, subject to relevant regulatory approvals.
Further in an interview, Mr. Ming-Kai Tsai, MediaTek Chairman & CEO, said, “We believe, through the deal, the competitive edges of both companies will be leveraged to maximise the platform synergy, strengthen MediaTek in IoT segment and further enhance MediaTek’s competitiveness in the fast-changing and ever-competitive global semiconductor market.”
Commenting on the offer made by Mediatek, Mr. Kenneth Tai, Richtek Chairman, said “By leveraging MediaTek’s platform leadership, Richtek aims to further optimise power management performance on the system level to allow competitive products for customers and further expand analog IC offerings to propel the company into its next stage of growth.”