Source: Digitimes news
Power inductor specialist Chilisin Electronics has announced plans to acquire fellow company Magic Technology in a stock swap that will entail exchanging one Chilisin share for every 0.503 Magic share.
The share-swap deal is subject to approval at both companies’ extraordinary shareholders meeting to be held on August 16, as well as relevant regulatory authorities. The share-swap record date is set at November 30.
Magic specializes in high-efficiency power inductors for motherboards and graphics cards, and has expanded its target markets to include cloud servers. Combining Magic will enhance further Chilisin’s inductor competitiveness particularly in the molding inductor segment, Chilisin said.
Chilisin recently completed its acquisition of fellow power inductor company Mag.Layer Scientific Technics through a stock swap. In 2017, Chilisin acquired chip resistor maker Ralec and ferrite cores supplier Ferroxcube, and also made an equity investment in China-based Yuanling Xianghua Electronic, a provider of inductors and ferrite materials.
Chilisin reported net profits of NT$1.48 billion (US$50.45 million) on revenues of NT$12.64 billion for 2017, with both results hitting record-high levels. EPS for the year reached NT$7.10.