VIA To Buy S3
Taiwanese core-logic chipset manufacturer VIA plans on purchasing S3 in a deal worth nearly $150 million.
Over the holiday weekend, VIA technologies, a popular Taiwanese manufacturer of core-logic chipsets, announced plans to purchase S3. The deal, worth nearly US$150 million, calls for VIA to purchase 10.8 million shares of S3 stock at $13.50 per share and increases the company's equity in S3 to 14.9 percent.
"The investment by VIA Technologies in S3 is yet another demonstration of the growing collaboration between our two companies," said S3 CEO Ken Potashner. "The technology and IP available between our two companies have positioned us to aggressively compete in the value PC segment through the strategy of integrating our technologies."
The deal is still subject to approval by various shareholder and government bodies, but it is expected to go through.
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