Wall Street Journal
Spreadtrum Communications Inc. (SPRD) has agreed to be acquired by Tsinghua Unigroup Ltd. for about $1.78 billion, in a deal the China-based fabless semiconductor provider says will bolster its growth prospects.
Shareholders will receive $31 per American depositary share, representing a 17% premium to Thursday’s close.
Spreadtrum Chief Executive Leo Liyou Li said Tsinghua’s intellectual property portfolio gives the original Spreadtrum business an advantage in the area of Internet protocol protection.
Meanwhile, Tsinghua Unigroup Chief Executive Zhao Weiguo said he believes “Spreadtrum and Tsinghua Unigroup will supplement each other and create enormous synergies in China and abroad.”