News
 

Bookmark and Share

(0) 

Hynix Semiconductor announced it has signed a business transfer agreement of its system IC division with System Semiconductor Ltd. The company’s board has approved the sale of the system IC division earlier this month.

System Semiconductor is a newly founded Korea-based corporation by Citigroup Venture Capital Equity Partners, L.P. and CVC Asia Pacific Ltd..

The sale of Hynix’s system IC division will be completed after going through necessary procedures such as extraordinary shareholders’ meeting. Once completed, the new company is expected to be developed and grow as a company that specializes in system IC business.

With the sale, which was one of the options to restructure the Company in the “Business Normalization Plan of Hynix” that was agreed with the creditor council at the end of 2002, Hynix will be able to focus its resources on memory business. In addition, with the proceeds generated from the sale, Hynix’s financial structure is expected to improve which will contribute significantly to the company’s early normalization.

As a part of its “Normalization Plan” Hynix sold out a number of other businesses, including LCD business earlier.

On the other hand, Hynix will pursue China project and seek opportunities for strategic alliances to further strengthen the company’s long-term competitiveness and extend its leading position in the memory market.

Discussion

Comments currently: 0

Add your Comment




Related news

Latest News

Wednesday, October 8, 2014

8:52 pm | Lisa Su Appointed as New CEO of Advanced Micro Devices. Rory Read Steps Down, Lisa Su Becomes New CEO of AMD

Thursday, August 28, 2014

12:22 pm | AMD Has No Plans to Reconsider Recommended Prices of Radeon R9 Graphics Cards. AMD Will Not Lower Recommended Prices of Radeon R9 Graphics Solutions

Wednesday, August 27, 2014

9:09 pm | Samsung Begins to Produce 2.13GHz 64GB DDR4 Memory Modules. Samsung Uses TSV DRAMs for 64GB DDR4 RDIMMs

Tuesday, August 26, 2014

6:41 pm | AMD Quietly Reveals Third Iteration of GCN Architecture with Tonga GPU. AMD Unleashes Radeon R9 285 Graphics Cards, Tonga GPU, GCN 1.2 Architecture

Monday, August 25, 2014

6:05 pm | Chinese Inspur to Sell Mission-Critical Servers with AMD Software, Power 8 Processors. IBM to Enter Chinese Big Data Market with the Help from Inspur