- 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.
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.
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