MediaTek's merger with affiliate Airoha Technology has entered the second stage where MediaTek will purchase the remaining shares in the company. MediaTek through an investment arm has already increased its stake in Airoha to 69.6%.

Airoha will be delisted from the Taiwan Stock Exchange (TSE) on July 17, the date when its merger with MediaTek becomes effective, according to the wireless communication IC specialist.

MediaTek in February announced plans to acquire another 15-40% stake in affiliate Airoha via public offering at NT$110 (US$3.54) per share from February 13 to March 14, and disclosed it will ultimately acquire the remaining shares and have Airoha become its wholly-owned subsidiary.

Merging with Airoha will be beneificial to the alignment of resources within the MediaTek group, and help increase the scale and competitiveness of the group, MediaTek noted. MediaTek also identified the merger as a strategic move for the company to develop its business in the IoT field.

Airoha is engaged in the design and development of handset PA, RF T/R switches, low-noise amplifiers (LNA), digital TV and set-top box DVB-S/S2 tuners, WiFi transceivers and Bluetooth SoCs.

By: DocMemory
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