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HTC buys S3 Graphics for $300M

Posted: 08 Jul 2011 ?? ?Print Version ?Bookmark and Share

Keywords:acquisition? graphics? processor?

HTC Corp, a Taiwan-based handset vendor, has agreed to buy S3 Graphics Co. Ltd from VIA Technologies Inc. and WTI Investment International Ltd. S3 is a graphics chip supplier for notebook and desktop PCs, embedded and other products.

The acquisition is said to be worth $300 million. Under terms of the agreement, HTC will pay VIA $147 million and pay WTI $153 million to acquire all outstanding shares of S3.

VIA acquired S3 in 2001 to accelerate the integration of graphics capabilities with its processor and chipset products. In 2005, WTI invested in S3 to help fund the operations and R&D initiatives

"The transaction would allow VIA to monetize a portion of its rich IP portfolio, yet retain its graphics capabilities to support the development and sale of its processors and chipsets," said Tzu-mu Lin, a VIA senior vice president and member of the company's board directors.

The boards of VIA, WTI and HTC has already approved the deal, VIA said. The transaction remains subject to regulatory approvals and other closing conditions and is expected to close before the end of the year.

The transaction will bring VIA a capital gain of $37 million and paid-in-capital of $115 million.





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