Fingerprint biometrics provider Egis Technology Inc (神盾) yesterday said that its board of directors has approved a plan to invest NT$1.6 billion (US$53.48 million) to boost its stake in FocalTech Systems Co (敦泰電子), with a goal of developing next-generation fingerprint technologies.
Egis plans to buy about 48 million shares of FocalTech for NT$30 to NT$33 each, it said in a filing with the Taiwan Stock Exchange.
The NT$33 price would represent a premium of 2.8 percent, based on FocalTech’s closing price of NT$32.1 in Taipei yesterday.
Upon completion of the transaction, Egis would be the biggest shareholder in FocalTech, with its stake rising from 3.04 percent to about 19 percent.
FocalTech’s posted revenue of NT$2.91 billion for last quarter, a 77.42 percent year-on-year increase and the highest in 10 quarters.
Egis on Friday last week said that the companies would cooperate on the development of next-generation fingerprint touch display driver ICs (FTDDIs), while Egis chief financial officer George Chang (張家麒) has been nominated for a seat on the board of directors at FocalTech.
Egis wants to be able to offer samples of next-generation FTDDIs to its customers by the second half of the year, the Neihu District (內湖), Taipei-based company said last week.
Egis is cooperating with other local touch display driver IC suppliers to develop large FTDDIs, it said.
Egis is the world’s No. 2 fingerprint sensor provider by shipments and holds a 26 percent market share of the global optical fingerprint sensors for the AMOLED market, Yuanta Securities Investment Consulting Co (元大投顧) said.
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