Diodes Incorporated Closes Acquisition of BCD Semiconductor
Diodes Incorporated has completed its acquisition of BCD Semiconductor Manufacturing Limited ("BCD") in an all cash transaction, valued at approximately $151 million. Under the terms previously announced each ordinary share, par value $0.001 per share, of BCD, including Shares represented by American Depository Shares (â€œADSsâ€), has been converted into the right to receive cash. Each ADS represents six Shares and has been converted into the right to receive $8.00 in cash, without interest.
Dr. Keh-Shew Lu, Diodesâ€™ President and CEO, commented, â€œAs we have worked with the BCD team over the past several weeks, we have come to appreciate more fully the integrity, dedication and work ethic of their management team and the depth and value inherent in the BCD product portfolio. We have recognized that our companiesâ€™ cultures are very compatible, and have been able to create a rapid integration plan that will allow us to accelerate the profitable business opportunity of the combined organization.â€
Added Mr. Chieh Chang, BCDâ€™s CEO, â€œWe have been very pleased with the aggressive approach Diodes has taken to allow us to close this transaction so expediently. I am optimistic about the opportunity that merging with Diodes offers to our customers, partners, and employees. The BCD management team and I look forward to being part of this dynamic and growing company.â€