Intel to invest 65 mn dlr in Taiwan's powertech
Intel Corp, the world's largest chip maker, will invest 65 million dollar in Taiwan's Powertech Technology to boost its flash memory business.
By Agencies |
TAIPEI: Intel Corp, the world's largest chip maker, will invest 65 million dollar in Taiwan's Powertech Technology to boost its flash memory business.
Intel will make the investment in Powertech, a memory-chip packaging and testing company, through its venture capital arm, Intel Capital, the companies said on Thursday. The agreement was confirmed by Intel Capital Singapore-based spokesman.
The acquisition is aimed at expanding Santa Clara, California-based Intel's NAND flash memory business, giving it access to components and the supply chain, he said. NAND flash is used to store data such as music and photos in MP3 players, digital cameras and other consumer electronics.
Intel did not say how large a stake it will own in Powertech after the investment.
Powertech said it had priced bonds that can be convertible into shares at a price equal to 82 per cent of the stock's average closing price on the previous five days. The company declined to confirm reports at the time that Intel would be a buyer of the convertible bonds.
Powertech expects to receive additional funds from other investors to continue expansion, the company said, without providing details.
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