Parade Technologies Ltd (譜瑞), which supplies mixed-signal ICs and display chips, yesterday said that it plans to acquire USB controller developer Fresco Logic Inc for US$37.5 million.
Parade’s board of directors has approved the purchase through subsidiary Pinchot Ltd in a move to expand its USB Type-C production capacity, the company said.
Set up by professional teams from Intel Corp and Synopsys Inc, Fresco Logic, which averages sales of US$700,000 per month, would not boost Parade’s financial figures much, Parade chief financial officer Judy wang (汪林麗珠) told a media briefing in Taipei.
Parade last month posted revenue of US$33.77 million.
“We mainly make retimers and redrivers, while Fresco Logic focuses on the design of USB host controller chips... We complement each other,” Parade cofounder and chief executive officer Jack Zhao (趙捷) said.
“We have decided to acquire the company because of their design capabilities ... which would help us expand the market for our USB 4 products,” Zhao said.
The deal is to be completed by the end of this quarter, Parade investor relations director and acting spokesman Chang Yo-ming (張祐銘) said.
In other news, the Ministry of Economic Affairs has approved three companies’ investment via a government plan.
King Ray Industry Co Ltd (金瑞瑩工業), a hardware accessory supplier for international companies such as Nike Inc and Harley-Davidson Inc, is to invest more than NT$400 million (US$13.30 million) to set up a new plant in the Changhua Coastal Industrial Park (彰濱工業區) to expand production, the ministry said.
The company’s decision was made as US and European clients seek to lower production risks, the ministry said.
Medical device manufacturer Bioteq Corp (邦特生物科技) plans to invest NT$1.6 billion to establish a flagship plant in the Yilan Science Park (宜蘭科學園區).
Bioteq also plans to set up automated production lines that would focus on the production of catheters and angiography equipment, the ministry said, adding that the company is also seeking to develop medical devices to treat people with COVID-19.
Syngen Biotech Co Ltd (生展生物科技), which specializes in the fermentation of microorganisms, is to invest about NT$800 million to expand production capacity through smart production lines, it said.
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