Actions Semiconductor Provides Update on Investment Activities
ZHUHAI, China, Dec. 18 /PRNewswire-Asia/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS), one of China's leading fabless semiconductor companies that provides comprehensive mixed-signal system-on-a-chip (SoC) and multimedia digital signal processing (DSP) solutions for portable consumer electronics, today provided an update on recent investment activities. Due to market conditions, Actions has withdrawn from a recently announced transaction. In addition, the company announced that it has made two new strategic investments.
Due to market uncertainties, Actions has withdrawn its recently announced investment in a Taiwan-based company that focuses on thin film technologies for touch-screens for portable handheld devices. Actions has already received the refunded proceeds from the Taiwan-based company.
In light of the current market conditions, Actions has sharpened its focus on making smaller investments that are closely aligned with its core business. The company has entered into an agreement to invest an additional $3 million in a fabless semiconductor company that provides SoC solutions to the Mobile Digital TV and the portable multimedia markets, as a follow on to an initial investment of $2.3 million in the company in 2007.
Actions also entered into an agreement to invest $3 million in a China-based website that hosts video and audio content to further its strategy to address adjacent markets and capitalize on its strength in portable consumer electronics.
"We believe that these new investments strategically align with our core business model, while allowing us to further expand our long-term growth opportunities. Our solid balance sheet is one of the strengths of the Company. These strategic investments demonstrate our commitment to a conservative investment strategy that focuses on synergy, value creation and technological innovation," stated Mr. Nan-Horng Yeh, CEO of Actions Semiconductor.
About Actions Semiconductor
Actions Semiconductor is one of China's leading fabless semiconductor companies that provides mixed-signal and multimedia SoC solutions for portable consumer electronics. Actions Semiconductor products include SoCs, firmware, software, solution development kits, as well as detailed specifications of other required components and the providers of those components. Actions Semiconductor also provides total product and technology solutions that allow customers to quickly introduce new portable consumer electronics to the mass market in a cost effective way. The company is headquartered in Zhuhai, China, with offices in Beijing, Shanghai, and Shenzhen. For more information, please visit the Actions Semiconductor website at http://www.actions-semi.com