Dec. 24, 2002 — Hsinchu Taiwan — ChipMOS Technologies Inc. (ChipMOS Taiwan), will acquire a more than 40% direct stake in ThaiLin Semiconductor Corp. (ThaiLin), a semiconductor testing services company. ChipMOS Taiwan will pay NT$668.4 million for the stakes by taking all of a private placement of 83,550,000 shares issued by ThaiLin at NT$8.0 per share, representing 41% of the total outstanding shares.
ChipMOS Taiwan, a 70%-owned subsidiary of ChipMOS Technologies (Bermuda) Ltd., and ThaiLin signed the stock purchasing agreement, which included details of the acquisition process and other related documents today. The transaction is expected to close by the end of the 4Q02.
“The acquisition of ThaiLin offers a unique opportunity to further strengthen the IC testing capabilities of ChipMOS/Bermuda. ThaiLin is a dedicated IC testing company with technological expertise in memory IC testing and a stable customer base,” said S.J. Cheng, deputy chairman and CEO of ChipMOS/Bermuda.
“For ThaiLin ‘s current customers, this acquisition will offer a broader set of solutions to meet their increasing demands by allowing them to tap into the capabilities of ChipMOS/Bermuda,” added Cheng.
The acquisition will be effective after the approval of ThaiLin’s shareholder’s meeting on December 30. ChipMOS Taiwan will then take part in operating ThaiLin, transferring necessary technologies to strengthen its management team, and upgrading its technology to expand business scope.