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ACL Semiconductors completes USmart, eVision purchase

Posted: 02 Oct 2012 ?? ?Print Version ?Bookmark and Share

Keywords:CDMA2000? smartphones? tablets? 3G wireless standard?

ACL Semiconductors Inc. has announced that it has completed the acquisition of Jussey Investment Limited, the owner of 80 per cent equity interest in USmart Electronic Product Limited and 100 per cent equity interest in eVision Telecom Limited. The Jussey acquisition follows the definitive sale and purchase agreement executed on September 28, 2012. The purchase price was approximately $1,846,797.89

Founded in 2006, USmart is an ODM manufacturer that specialises in designing, manufacturing and distributing advanced technologies for computers, customer electronic appliances and communication markets in China. USmart's products include computer peripherals, premium smartphones, high-end tablets, flash storage, communication devices and consumer electronic appliances.

eVision is a solution company that specialises in CDMA2000, a 3G wireless standard which has been adopted by China Telecom. eVision provides CDMA 2000 solutions to USmart. Through an exclusive R&D service agreement with an independent third party, eVision holds a CMDA2000 software license granted by VIA Telecom Co. Ltd.

Mr. Chung-Lun Yang, Chief Executive Officer and Chairman of ACL, stated, "We are pleased to complete the acquisition of Jussey, the major shareholder of USmart and eVision. We expect that the acquisition will diversify ACL's product portfolio with USmart developing and manufacturing 3G smartphones for its customers and with eVision providing support for the CDMA2000 3G standard."

"This acquisition will transform our company into an R&D manufacturer with its own products and brands, and facilitate the entry into the expanding telecommunication industry. With the 3G base band licences acquired through USmart and eVision, ACL will be well positioned to expand its operations. The combined company will benefit from both the vertical integration and the PRC-located design and manufacturing capabilities, as well as from its relationships with Samsung and ATMD." added Yang.

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