Longsys Completes $132 Million Takeover of Suzhou Plant in China from Powertech

To read this article from South China Morning Post, click on:
Chinese storage specialist Longsys, a major client of US chip maker Micron, completes US$132 million takeover of Suzhou plant from Taiwan’s Powertech
Storage systems specialist Shenzhen Longsys Electronics, one of US memory chip maker Micron Technology’s largest clients in China, has completed its $132 million takeover of a mainland plant from Taiwan’s Powertech Technology, one of the world’s largest semiconductor assembly, packaging and testing companies.

Longsys, which makes digital storage products that include memory modules and SSDs, said in a filing to the Shenzhen Stock Exchange on Wednesday that it has finalised the acquisition of a 70% equity stake in Powertech Technology (Suzhou), which provides chip packaging, testing and surface-mount technology services in the most populous city of eastern Jiangsu province.

That acquisition, which Longsys announced in June, involved an initial payment of $65.8 million, with the balance to be paid on a later date, according to the company.