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Weltrend Announces to Launch a Tender Offer to Acquire the Shares of Sentelic at a Price of NT$72.9
2022-07-27
Hsinchu, Taiwan, July 27, 2022 – Weltrend Semiconductor Inc. (TWSE: 2436; hereinafter “Weltrend”) today held a Board of Directors meeting and approved to commence a cash tender offer for Sentelic Corporation (TPEx: 4945; hereinafter “Sentelic”)’s common stock at NT$72.9 per share. |
Under the tender offer, Weltrend plans to acquire a minimum of 13,522,000 shares (approximately 45% of Sentelic’s outstanding shares) to a maximum of 15,324,000 shares (approximately 51% of Sentelic’s outstanding shares). The tender offer is open for 20 days from July 29, 2022 to August 17, 2022. |
Sentelic specializes in BLDC (brushless DC) motor controller ICs and is one of the industry’s leaders for that in server cooling fans, an area which Weltrend has been focusing on as well in the recent years. The two companies have high degree of synergy in their technologies and offerings, yet limited overlaps in customer coverage. Weltrend believes that the tender offer could bring both companies a well position to capture the fast-growing data center demand. |
“The fabless semiconductor industry is becoming ever more competitive and combining forces through merger or other forms of strategic partnerships are inevitable,” said Mr. Sam Lin, Chairman and CEO of Weltrend. “We believe, through this deal, Weltrend and Sentelic’s R&D resources, sales channels, and backend operations could be leveraged to scale up and further enhance both companies’ competitiveness in the fast-changing and ever-competitive global semiconductor market.” |
Moving forward, Weltrend seeks to work with Sentelic to provide customers with innovative products and superior services by putting both companies’ employees’ and shareholders’ values into full consideration. |
About Weltrend Semiconductor Inc. Founded in 1989 in the "Silicon Valley of Taiwan", the Science-Based Industrial Park (SBIP) in Hsinchu, Weltrend (TAIEX: 2436) is a leading fabless semiconductor company, also known as IC design house, specializing in the planning, design, testing, application development and distribution of mixed-signal/digital IC products across multiple applications. For more information, please visit www.weltrend.com. |