Mediatek has signed a letter of intent with Richtek Technology and plans to launch a tender offer for 35-51% of Richtek’s outstanding shares, valued at $310-$450 million. Having completed the tender offer, Mediatek plans to acquire 100% of Richtek’s stock, completing the deal by the second quarter of 2016.
Ming-Kai Tsai, Mediatek chairman & CEO, said: “Richtek is a leader in analog ICs and provides comprehensive power management solutions to satisfy various customer demand, backed by an experienced management and R&D team. We believe, through the deal, the competitive edges of both companies will be leveraged to maximize the platform synergy, strengthen Mediatek in Internet of Things segment and further enhance Mediatek’s competitiveness in the fast-changing and ever-competitive global semiconductor market”.
