Tsinghua Unigroup buys 6% in Lattice
Print Edition
TSINGHUA Unigroup has bought a 6 percent stake, worth over US$40 million, in US-based chip firm Lattice Semiconductor as the Shenzhen-listed firm continued its overseas expansion.
The state-owned IT firm offering software, computer and gadgets, acquired 7.2 million shares, or a 6 percent stake, in Portland-based Lattice Semiconductor, the Chinese firm said in a statement yesterday.
Tsinghua Unigroup didn’t give the purchase price of the shares while the stock traded between US$3.25 and US$7.07 in the past year. Shares of Lattice Semiconductor surged almost 20 percent to US$6.36 in the US market on Wednesday, which made the stake worth over US$40 million.
Tsinghua Unigroup’s filing said it bought the Lattice stake “for investment purposes” and might “enter into discussions with management regarding a possible commercial agreement or arrangement.”
Lattice Semiconductor designs chips used in smart devices and telecommunications networks.
Chinese firms are seeking overseas buying opportunities in the chip industry because they lack core technologies, despite China being the biggest market of consumer electronics.
In February, Tsinghua Unigroup shelved a US$3.7 billion acquisition of Western Digital.
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