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China's fabless company rethinks investments

Posted: 24 Dec 2008 ?? ?Print Version ?Bookmark and Share

Keywords:Taiwan investment? market slowdown? Actions Semi business?

Actions Semiconductor Co. Ltd has reported its recent investment activities. Due to market conditions, Actions has withdrawn from a recently announced transaction. The company also announced that it has made two new strategic investments.

Because of market uncertainties, Actions has withdrawn its recently announced investment in a Taiwan-based company that focuses on thin-film technologies for touchscreens for portable handheld devices. Actions has already received the refunded proceeds from the Taiwan-based company.

Smaller investments
In light of the current market conditions, Actions has sharpened its focus on making smaller investments that are closely aligned with its core business. The company has entered into an agreement to invest an additional $3 million in a fabless semiconductor company that provides SoC solutions to the mobile DTV and the portable multimedia markets, as a follow on to an initial investment of $2.3 million in the company in 2007.

Actions also entered into an agreement to invest $3 million in a China-based Website that hosts video and audio content to further its strategy to address adjacent markets and capitalize on its strength in portable consumer electronics.

"We believe that these new investments strategically align with our core business model, while allowing us to further expand our long-term growth opportunities. Our solid balance sheet is one of the strengths of the company. These strategic investments demonstrate our commitment to a conservative investment strategy that focuses on synergy, value creation and technological innovation," said Nan-Horng Yeh, CEO of Actions.

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