Zetex / Diodes Inc. [ zetex ]
Diodes Incorporated Closes Acquisition of Zetex plc
DALLAS, TEXAS – June 9, 2008 -- Diodes Incorporated (NASDAQ:DIOD), a leading global manufacturer and supplier of application specific standard products within the broad discrete and analog semiconductor markets, announced that it has completed its acquisition of Zetex plc (LSE: ZTX) in an all cash deal.
This acquisition offers the following potential revenue, operating and cost synergies:
- Combined 2007 revenue of $528 million;
- Expected to be accretive to GAAP earnings per share within 12 months;
- Strengthens Diodes’ product portfolio by expanding into the industrial and automotive markets;
- Creates significant cross-selling opportunities within the customer base and increases the geographic footprint;
- Complementary wafer processing and packaging technologies, resulting in expanded capabilities and capacity
Dr. Keh-Shew Lu, Diodes’ President and CEO, commented, “We are pleased to close this acquisition, which we believe will further enhance Diodes’ global leadership in discrete and analog semiconductor solutions. We look forward to achieving continued growth and capitalizing on the new business opportunities and geographic expansion resulting from this acquisition.”
The transaction will close under the previously released terms by which each Zetex shareholder will receive 85.45 pence in cash per Zetex ordinary share, valuing the fully diluted share capital of Zetex at approximately $176 million USD (based on a US$:GBP$ exchange rate of 1.9778). For a more complete description of the terms of this acquisition, see Diodes’ Form 8-K filed with the Securities and Exchange Commission on April 4, 2008.
About Diodes Incorporated
Diodes Incorporated, a S&P SmallCap 600 Index company, is a leading global manufacturer and supplier of application specific standard products within the broad discrete and analog semiconductor markets, serving the consumer electronics, computing, communications, industrial and automotive markets. Diodes’ products include diodes, rectifiers, transistors, MOSFETs, protection devices, functional specific arrays, power management devices including DC-DC switching and linear voltage regulators, amplifiers and comparators, and Hall-effect sensors. Diodes has its corporate offices in Dallas, Texas, with a sales, marketing, engineering and logistics office in Southern California; design centers in Dallas, San Jose, Hsinchu Science Park and Taipei; a wafer fabrication facility in Missouri; two manufacturing facilities in Shanghai; engineering, sales, warehouse and logistics offices in Taipei and Hong Kong, and sales and support offices throughout the world. Diodes’ product focus is on highgrowth end-user equipment markets such as TV/Satellite set-top boxes, portable DVD players, datacom devices, ADSL modems, power supplies, medical devices, wireless notebooks, flat panel displays, digital cameras, mobile handsets, DC to DC conversion, wireless 802.11 LAN access points, brushless DC motor fans, and automotive applications.