GigaDevice and other investors acquire 70% equity interest in Suzhou Syschip Technology

On December 18, GigaDevice announced that it had jointly acquired 70% of the equity of Suzhou Syschip Electronic Technology Co., Ltd. with Stoney Capital, Hefei State Investment, and Hefei Industrial Investment, with a transaction price of 581 million yuan. GigaDevice acquired approximately 38.07% of the shares for 316 million yuan and became the controlling shareholder of Suzhou Syschip. Suzhou Syschip is a company specializing in integrated circuit design. Its main business is the research and development, design and sales of analog chips. Its products include lithium battery protection chips, power management chips, etc. These products are widely used in smart wearable devices, e-cigarettes, mobile power supplies and other fields, and have been used in many well-known brand products, with annual sales of more than 1 billion units.