Shanhai Capital to acquire Analogix Semiconductor

Analogix Semiconductor Inc of the US and Beijing Shanhai Capital Management Co Ltd have jointly announced that they have entered into a definitive merger agreement under which a consortium led by Shanhai Capital will acquire all of the outstanding shares of Analogix for over $500 million. China Integrated Circuit Industry Investment Fund Co also joined Shanhai Capital’s fund as one of the limited partners. The transaction is subject to regulatory approvals and is expected to close in late 2016.
Analogix’s high-speed, mixed-signal semiconductor integrated circuits (ICs) for high-performance display applications are used in mobile devices, virtual/augmented reality (VR/AR), and other high-performance electronic products from leading electronics brands including Apple, Samsung, LG, Microsoft, Google, Lenovo, Dell, HP, Asus, and HTC. The company is headquartered in Santa Clara, California, and the majority of its engineering operations are located in Beijing, China. Current investors include leading venture capital firms: DCM Ventures, Globespan Capital Partners, Keytone Ventures, and the Woodside Fund.
“We are very happy to have reached this agreement, which provides significant value to our shareholders,” said Dr Kewei Yang, Analogix Semiconductor’s chairman and CEO. “The financial support of Shanhai Capital propels our growth while maintaining the direction, organization, and determination to serve our customers. I am especially excited that we all share the same vision of building Analogix into a much broader and more capable global semiconductor leader.”
“We are pleased to establish our relationship with Analogix, a company whose technology leadership is recognized by the world’s leading OEMs, and we look forward to facilitating Analogix’s continued growth,” said Mr Xianfeng Zhao, Chairman of Beijing Shanhai Capital Management Co, Ltd. “With the added investment, we can leverage the strength of the company’s core technology and business expertise, extend our business into adjacent high-growth markets, and build a world-leading semiconductor company. We expect an IPO in China in the near future.”
Analogix Semiconductor designs and manufactures semiconductors for the digital multimedia market, from portable devices such as smartphones to high-end graphics cards and large, high-definition displays. Analogix is the market leader in providing end-to-end interface connectivity semiconductor solutions for DisplayPort, including the SlimPort family of products, and an industry leader in mobile display controllers, such as low-power, high-speed timing controller solutions. The DisplayPort standard is an innovative, packetized digital interface for high-resolution video and audio that was developed by the Video Electronics Standards Association (VESA). SlimPort branded products are compliant with DisplayPort, Mobility DisplayPort (MyDP), and DisplayPort Alternate Mode over the USB Type-C connector.