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ISSI forms separate ASSP company

Posted: 13 Jan 2010 ?? ?Print Version ?Bookmark and Share

Keywords:ASSP? EEPROM? smart card? power management?

Integrated Silicon Solution Inc. is creating a separate business unit focused on its ASSP business, including EEPROM and smart card products. Operating under the name of Giantec Semiconductor Inc., the new business unit will develop and market EEPROM, smart card and analog power management devices. The company headquarters are in Shanghai, China.

As part of this formation, Shanghai Zhang Jiang Science & Technology Investment Corp. committed to invest $3.75 million in Giantec. ISSI will still own more than 50 percent of Giantec after this investment and, as such, will continue to consolidate the financial statements of Giantec.

"We are very excited about the creation of Giantec, which combines our existing EEPROM and smart card business with analog power management capability. This new venture strengthens our business opportunity in the all important Chinese electronics market," said Scott Howarth, ISSI's president and CEO. "We are also pleased to obtain the investment of Shanghai Zhang Jiang Science & Technology Investment Corp. Their commitment further enhances Giantec's position in the Chinese market," added Howarth.

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