Huacan Optoelectronics (300323) announced that the company received a confirmation letter from CFIUS on May 9, the company acquired 100% equity of Harmony Corelight (Yiwu) Optoelectronics Technology Co., Ltd., and Harmony Core Photonics acquired MEMSIC, Inc. 100% equity has passed the CFIUS review.
The transaction still needs the completion of the previous transaction, the re-examination of the company's board of directors, the approval of the company's general meeting of shareholders, the approval of the CSRC, the approval of the Ministry of Commerce, etc. There are uncertainties as to whether the above approvals and final approvals are available.
Hua Can Optoelectronics is considered by the industry to be a major event in China's semiconductor industry's overseas M&A activities in recent years. CFIUS audit is the key. According to people close to the company, after the CFIUS review, there is almost no obstacle to this acquisition, and the rest is only to complete the corresponding procedures.
It is understood that on October 14, 2016, Huacan Optoelectronics held the 32nd meeting of the second board of directors, and reviewed and approved the relevant proposals for the issuance of shares to purchase assets and raise matching funds and related transactions.
According to public information, MEMSIC is mainly engaged in the research and development, manufacturing and sales of micro-electro-mechanical systems (MEMS) products. Its main products are accelerometers and magnetic sensors. The products are widely used in many fields such as smart phones.
Listed on NASDAQ in 2007, it is the world's first microelectronics technology (MEMS) listed company. Later, after comprehensive consideration, MEMSIC was reorganized, and the original sensor business segment and system integration business segment were split. The MEMSIC after reorganization completed only the sensor business.
Since its establishment, Huacan Optoelectronics has been engaged in the research, development, production and sales of LED epitaxial wafers and chips. The main products are blue epitaxial wafers and full-color LED chips. At present, the company's main business is mainly to produce and sell high-brightness LED epitaxial wafers and chips. After being packaged by customers, LED chips can be widely used in high-end applications such as full-color display, backlight and lighting. With the acquisition of Blue Crystal Technology, the company added sapphire single crystal, epitaxial substrate and other sapphire window materials business.
After the completion of the acquisition, Huacan Optoelectronics will be able to quickly enter the field of MEMS sensors with broad prospects. As a sub-sector in the semiconductor industry chain, MEMS sensors have a very broad application prospect in aviation, aerospace, automotive, biomedical, environmental monitoring, military, and consumer electronics commonly used in people's daily lives. With the advent of the times, the rapid development of consumer electronics, medical electronics, and the Internet of Things is expected to drive MEMS sensors into a new round of rapid growth.
It is worth mentioning that Huacan Optoelectronics is currently the main LED chip supplier for mainstream LED packaging and application companies in China. The long-term and stable cooperation relationship with major customers helps the company to fully share the broad market of LED downstream applications. Promote the rapid growth of the company's business. The company has always been "doing the best LED products, to be the best LED enterprise" for business purposes, with a special focus on strategic win-win with downstream customers.
Of course, through the unremitting efforts in recent years, Huacan Optoelectronics has gradually established a good brand image of high-quality LED chip manufacturers, and has accumulated good reputation and market reputation among its customers, and its products are increasingly getting downstream packaging and Applicable to customers for their wide recognition.
For Huacan, it is the company's current key strategy to actively carry out strategic M&A expansion through the capital market and further improve the industry status.
The next period is a critical period for the fierce competition of the industry to promote the development of large-scale mergers and acquisitions. Huacan Optoelectronics will actively seek various strategic expansion opportunities to achieve healthy development, and lay the foundation for further enhancing the company's position in the global industry.
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