WT Microelectronics fully acquires South Korea's BSI.
Taipei, Aug. 27, 2010 (CENS)--WT Microelectronics Co., Ltd., the second-largest IC distributor in Taiwan, has announced a buyout of South Korea-based Brilliant Semiconductor (BSI) for US$16.8 million in cash, aiming to supply large enterprises and expand its influence in South Korea's IC distribution market, according to the firm.
BSI, founded 1979, is a seasoned IC distributor, who has focused business in South Korea and South Asia, posting revenue of about US$84.91 million and a gross profit rate of 8.8% for last year, and NT$39.27 million and 9.2% for the first half of this year, expecting revenues of an estimated US$80 million for 2010.
WT Microelectronics indicated that BSI agreed to the acquisition for its founder may retire, and stressed that the buyout will also help to take over BSI's existing clientele, which is key to WT Microelectronics to explore South Korea's IC distribution market.
WT Microelectronics explained that BSI's clients are mostly set-top boxes, TVs and handsets suppliers, with South Korea's top three electronic manufacturers also among the firm's clients.
After the acquisition is completed in October, WT Microelectronics is likely to see single-month revenue beat its highest of NT$6.15 billion. Besides, the firm stated that the acquisition will help to build links with South Korea's heavyweight makers of household appliances and handsets, without contributing too much to its overall revenue growth.
To further expand its shares in the IC distribution market in the Asia Pacific, the firm said it will acquire more companies within the region that show quality clientele and sound profitability.
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|Title Annotation:||WT Microelectronics Co. Ltd. and Brilliant Semiconductor|
|Publication:||The Taiwan Economic News|
|Article Type:||Brief article|
|Date:||Aug 27, 2010|
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