News Article
Austriamicrosystems announces completion of transaction to acquire Texas Advanced Optoelectronic Solutions, Inc.
austriamicrosystems AG today announced the completion of the transaction to acquire 100% of the shares in Texas Advanced Optoelectronic Solutions, Inc.
austriamicrosystems AG , a designer and manufacturer of high performance analog ICs for the consumer, communications, industrial, medical and automotive markets, today announced the completion of the transaction to acquire 100% of the shares in Texas Advanced Optoelectronic Solutions, Inc.
As part of the total consideration of approx. USD 320 million for the acquisition of TAOS, 2,706,840 new austriamicrosystems no-par value bearer shares were issued by way of a capital increase out of existing authorized capital at an issue price of EUR 37.9843 per share, and were privately placed with Twilight S, LLC, a limited liability company owned by certain shareholders of TAOS. After the capital increase, the company's statutory ordinary share capital is divided into 13,753,092 ordinary no par value bearer shares with a calculated nominal value of EUR 2.4224 per share.
The application for the newly issued austriamicrosystems shares to be listed and admitted to trading on the SIX Swiss Exchange according to the Main Standard was approved by the SIX Swiss Exchange. The listing on the SIX Swiss Exchange will become effective and trading will commence on July 15, 2011.
Following the successful completion of the transaction, austriamicrosystems plans to hold an extraordinary shareholders meeting in the near future where the shareholders shall in particular decide on the election of two representatives of former TAOS shareholders to the supervisory board.
"The acquisition of TAOS is a major step bringing the company to the next level of growth and profitability and creating a strong platform to expand our position in the high performance analog market. We welcome all TAOS employees and look forward to working with the talented team at TAOS on innovative sensor technologies for mobile devices leveraging both companies’ world-class sensor expertise.
Together, we are in an excellent position to pursue the significant opportunities for advanced sensor solutions in growth markets such as smartphones and tablet PCs", commented John Heugle, CEO of austriamicrosystems.
www.austriamicrosystems.com
