VeriSilicon Microelectronics plans to acquire Pixelworks

VeriSilicon Microelectronics (Shanghai) Co., Ltd. announced plans to invest with co-investors in a special purpose vehicle, Tiansui Xinyuan Technology (Shanghai) Co., Ltd., and use Tiansui Xinyuan as the acquisition entity to acquire control of Point by Point Semiconductor (Shanghai) Co., Ltd. The equity value of 100% of the target company's shares is RMB 950 million. Upon completion of the transaction, Tiansui Xinyuan will hold 100% of the target company's shares.