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BCD Semiconductor Manufacturing Agrees to Acquire Auramicro, an Advanced Power Management IC Provider
GlobeNewswire 2011-05-31
-- Adds analog design engineers to BCD's power IC R&D team
-- Expands BCD's rapidly growing DC/DC power management IC product
portfolio
-- Solutions leverage BCD's Fab 2 manufacturing process
-- Transaction expected to be neutral to Fiscal Year 2011 EPS and accretive
to Fiscal year 2012 EPS
SHANGHAI, China, May 31, 2011 (GLOBE NEWSWIRE) -- BCD Semiconductor
Manufacturing Limited ("BCD Semiconductor") (Nasdaq:BCDS), a leading
analog integrated device manufacturer, or IDM, based in China,
specializing in the design, manufacture and sale of power management
integrated circuits, or ICs, today announced that it has acquired
Auramicro Corporation, a private company incorporated in Cayman Islands
with main operations in Taiwan, for approximately $5.6 million in cash.
The acquisition will add a significant engineering team to BCD's power
management IC research and development team. In addition, the
acquisition will expand BCD's rapidly growing DC/DC product portfolio
with solutions that can leverage BCD's Fab 2 manufacturing process
currently under development.
"The addition of Auramicro's analog design team and power IC product
portfolio will be a great complement to BCD's growing power IC
business," said Chieh Chang, CEO of BCD Semiconductor. "We feel our
differentiated business model will allow us to continue to take share
in the multi-billion dollar power IC market and we are excited to have
Auramicro's team join the BCD family."
The transaction is expected to close by the end of the second fiscal
quarter of 2011. The acquisition, which initially adds approximately
$500 thousand in operating expenses per quarter, is expected to be
neutral to BCD's earnings per share in the company's 2011 fiscal year
and accretive in 2012.
About BCD Semiconductor
BCD Semiconductor Manufacturing Limited ("BCD Semiconductor") is a
leading analog integrated device manufacturer, or IDM, based in China,
specializing in the design, manufacture and sale of power management
integrated circuits, or ICs. Our broad portfolio of power management
ICs primarily targets rapidly growing, high volume markets such as
mobile phones, LCD televisions and monitors, personal computers,
adapters and chargers and other electronics products. As an IDM, BCD
Semiconductor integrates product design and process technology to
optimize product performance and cost. We offer system-level solutions
with the quality, performance and reliability required by our
customers. Our China-based operations provide proximity to the rapidly
growing electronics industry in Asia, enabling us to align our product
development effort with customers and market trends and to provide
timely and effective technical support. For more information, please
visit http://www.bcdsemi.com.
About Auramicro
Auramicro designs analog and mixed signal products including power
management ICs, LED drivers, and touch screen controllers for LCD
panels. The Company targets data communication, set-top box, LCD
monitor, LCD TV, mobile, and LED lighting applications. Auramicro is
registered as a Cayman Islands company with headquarters in Taipei,
Taiwan and an office in Shenzhen, China.
Forward-Looking Statements
This press release contains forward-looking statements that are based
on current expectations, estimates, forecasts and projections of future
performance based on management's judgment, beliefs, current trends,
and anticipated product performance. These forward-looking statements
include, without limitation, the acquisition's effect on BCD's
operating expenses and earnings in 2011 and 2012, the expected benefits
of the acquisition to BCD's development team and product portfolio, and
the expected timing of the acquisition's closing. Forward-looking
statements involve risks and uncertainties that may cause actual
results to differ materially from those contained in the
forward-looking statements. These factors include, but are not limited
to, our ability to (1) successfully integrate Auramicro, its products,
technologies and employees into BCD; (2) compete successfully in this
highly competitive and rapidly changing marketplace, (3) retain key
Auramicro employees and (4); and other risks and uncertainties as
described in our filings with the U.S. Securities and Exchange
Commission ("SEC"), including the registration statement on Form F-1
filed on January 27, 2011, as amended and supplemented, and other
filings with the SEC. Other unknown or unpredictable factors or
underlying assumptions subsequently proving to be incorrect could cause
actual results to differ materially from those in the forward-looking
statements. Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future
results, level of activity, performance, or achievements. You should
not place undue reliance on these forward-looking statements. All
information provided in this press release is as of today's date,
unless otherwise stated, and BCD Semiconductor undertakes no duty to
update such information, except as required under applicable law.
CONTACT: Tom Krause
Investor Relations
IR@bcdsemi.com
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