BCD Semiconductor Manufacturing Agrees to Acquire Auramicro, an Advanced Power Management IC Provider
May 31 2011 - 9:00AM
- Adds analog design engineers to BCD's power IC R&D
team
- Expands BCD's rapidly growing DC/DC power management IC product
portfolio
- Solutions leverage BCD's Fab 2 manufacturing process
- Transaction expected to be neutral to Fiscal Year 2011 EPS and
accretive to Fiscal year 2012 EPS
BCD Semiconductor Manufacturing Limited ("BCD Semiconductor")
(Nasdaq:BCDS), a leading analog integrated device manufacturer, or
IDM, based in China, specializing in the design, manufacture and
sale of power management integrated circuits, or ICs, today
announced that it has acquired Auramicro Corporation, a private
company incorporated in Cayman Islands with main operations in
Taiwan, for approximately $5.6 million in cash. The acquisition
will add a significant engineering team to BCD's power management
IC research and development team. In addition, the acquisition will
expand BCD's rapidly growing DC/DC product portfolio with solutions
that can leverage BCD's Fab 2 manufacturing process currently under
development.
"The addition of Auramicro's analog design team and power IC
product portfolio will be a great complement to BCD's growing power
IC business," said Chieh Chang, CEO of BCD Semiconductor. "We feel
our differentiated business model will allow us to continue to take
share in the multi-billion dollar power IC market and we are
excited to have Auramicro's team join the BCD family."
The transaction is expected to close by the end of the second
fiscal quarter of 2011. The acquisition, which initially adds
approximately $500 thousand in operating expenses per quarter, is
expected to be neutral to BCD's earnings per share in the company's
2011 fiscal year and accretive in 2012.
About BCD Semiconductor
BCD Semiconductor Manufacturing Limited ("BCD Semiconductor") is
a leading analog integrated device manufacturer, or IDM, based in
China, specializing in the design, manufacture and sale of power
management integrated circuits, or ICs. Our broad portfolio of
power management ICs primarily targets rapidly growing, high volume
markets such as mobile phones, LCD televisions and monitors,
personal computers, adapters and chargers and other electronics
products. As an IDM, BCD Semiconductor integrates product design
and process technology to optimize product performance and cost. We
offer system-level solutions with the quality, performance and
reliability required by our customers. Our China-based operations
provide proximity to the rapidly growing electronics industry in
Asia, enabling us to align our product development effort with
customers and market trends and to provide timely and effective
technical support. For more information, please visit
http://www.bcdsemi.com.
About Auramicro
Auramicro designs analog and mixed signal products including
power management ICs, LED drivers, and touch screen controllers for
LCD panels. The Company targets data communication, set-top box,
LCD monitor, LCD TV, mobile, and LED lighting applications.
Auramicro is registered as a Cayman Islands company with
headquarters in Taipei, Taiwan and an office in Shenzhen,
China.
Forward-Looking Statements
This press release contains forward-looking statements that are
based on current expectations, estimates, forecasts and projections
of future performance based on management's judgment, beliefs,
current trends, and anticipated product performance. These
forward-looking statements include, without limitation, the
acquisition's effect on BCD's operating expenses and earnings in
2011 and 2012, the expected benefits of the acquisition to BCD's
development team and product portfolio, and the expected timing of
the acquisition's closing. Forward-looking statements
involve risks and uncertainties that may cause actual results to
differ materially from those contained in the forward-looking
statements. These factors include, but are not limited to, our
ability to (1) successfully integrate Auramicro, its products,
technologies and employees into BCD; (2) compete successfully in
this highly competitive and rapidly changing marketplace, (3)
retain key Auramicro employees and (4); and other risks and
uncertainties as described in our filings with the U.S.
Securities and Exchange Commission ("SEC"), including the
registration statement on Form F-1 filed on January 27, 2011, as
amended and supplemented, and other filings with the SEC. Other
unknown or unpredictable factors or underlying assumptions
subsequently proving to be incorrect could cause actual results to
differ materially from those in the forward-looking statements.
Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee
future results, level of activity, performance, or achievements.
You should not place undue reliance on these forward-looking
statements. All information provided in this press release is as of
today's date, unless otherwise stated, and BCD Semiconductor
undertakes no duty to update such information, except as required
under applicable law.
CONTACT: Tom Krause
Investor Relations
IR@bcdsemi.com
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