China’s Hua Capital to buy Nasdaq-listed Synaptics unit for $120m

China’s semiconductor sector-focused investment firm Hua Capital has signed an agreement to acquire an Asia-based mobile LCD touch and display driver integration (TDDI) business from Nasdaq-listed human interface solutions developer Synaptics for $120 million in cash.

The transaction is expected to close in the second quarter of 2020, according to a recent statement.

Synaptics, which went public in 2002, develops human interface solutions for the mobile, PC, smart home, and automotive industries. The company offers touch, display, biometrics, voice, audio, and multimedia products built on its own R&D, intellectual property (IP) and supply chain capabilities.

The company has over 2,000 patents that are either pending or issued. It has so far shipped more than 6 billion units and has reached a runway of a billion a year, shows the company website.  

 “We will continue to invest in technologies for the premium segments of the mobile market where our advanced touch controllers and DDICs deliver best-in-class performance,” said Janice Mori, senior vice president, Touch and Display Business Unit at Synaptics.

“In addition, we will still develop TDDI solutions for automotive applications where we have an unparalleled roadmap and are currently capturing the majority of sockets globally,” said Mori.

Hua Capital was created in 2014 by Tsinghua Holdings, a wholly-owned subsidiary of Chinese top academic institution Tsinghua University, and China Fortune-Tech Capital, which primarily makes investments in the integrated circuit field. The company looks at investment opportunities in semiconductor designing, manufacturing and testing segments, backing companies at all stages of development.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.