ChipMOS & Connectec Japan Enter Joint Technology Development Agreement; ChipMOS Takes 30% Equity Stake
ChipMOS Technologies (Bermuda) LTD. announced that its majority-owned Taiwanese subsidiary, ChipMOS Technologies Inc., has agreed to invest in CONNECTEC Japan Corp. (CTJ) for a 30% equity stake of CTJ pursuant to a share subscription agreement dated July 4, 2011.
ChipMOS and CTJ have also entered into a technology transfer agreement (Technology Agreement) in which, ChipMOS Taiwan receives exclusive perpetual license for certain intellectual property rights from CTJ. Under the Technology Agreement, ChipMOS Taiwan and CTJ will jointly develop package and assembly technologies targeting existing and future market opportunities and better meet its customer requirements.
CTJ is a corporation focused on the development of next generation semiconductor package and foundry technologies. Its proprietary technology was developed to increase efficiency and yield of LCD driver assembly processes and to extend inner lead bonding process capability to below 20um.
Katsunori Hirata, President of CONNECTEC JAPAN, commented, "This is a milestone event for us. With ChipMOS becoming a major equity holder and agreeing to adopt and jointly enhance our technology, we welcome a committed, industry leading partner to help bring our proprietary technologies into mass production. We are excited to be working closely with ChipMOS in the future and together to develop more efficient and sophisticated semiconductor packaging technology."
S.J. Cheng, Chairman and Chief Executive Officer of ChipMOS, said, "After carefully evaluating CTJ’s technology, management and roadmap, we were so impressed by CTJ’s achievements and capabilities that we agreed to take an equity stake in CTJ. Its next generation technology will allow ChipMOS to gain a competitive advantage by adopting technology improvements as we continuously work to lower process costs for our operations. Importantly, our agreement will pave the way to innovative, future advanced technology development."
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