The board of directors of Egis Technology (EgisTec) has approved plans to acquire an additional 16% stake in fellow IC design company FocalTech System.
EgisTec disclosed plans to take up an additional 48.61 million shares of fellow company FocalTech for NT$30-33 (US$1.0-1.10) per share, or a total of up to NT$1.6 billion. EgisTec already holds 9.11 million shares of FocalTech. EgisTec's stake in FocalTech will surpass 19% accordingly.
The pair has just announced an alliance to develop next-generation fingerprint, touch, display driver integrated (FTDDI) chips. FocalTech is currently the world's second largest provider of TDDI chips, trailing only behind Novatek Microelectronics, while EgisTec ranks second in the global optical in-display fingerprint sensor chip market.
Article translated by Jessie Shen
