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Diodes invests in manufacturing firm

Posted: 29 Jun 2011 ?? ?Print Version ?Bookmark and Share

Keywords:investments? diode manufacturing? diode design?

Diodes Inc. has announced that it is investing in Eris Technology Corp., a Taiwan firm that provides design, manufacturing and after-market services for diode products.

Under the agreement between the two companies, Diodes will offer Eris' shareholders and employees up to 10 million shares of common stock at $1.34 (NT$39) per share to raise approximately $14 million (NT$390 million). Diodes has also agreed to purchase any shares not purchased by Eris' shareholders and employees. Eris' founders have agreed to sell Diodes any shares necessary to ensure that Diodes will obtain a minimum of 8 million shares, which represents approximately 24 percent ownership in Eris after the capital increase.

"Eris is currently a supplier of assembly/test services to Diodes and we are pleased to be able to expand that relationship," said Keh-Shew Lu, president and CEO, Diodes. "This investment will allow Eris to expand their capacity in specific packages as a complement to Diodes' internal capability," he added.

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