Integrated Silicon Solution To Be Acquired By Chinese Consortium Of Investors

(RTTNews) - Integrated Silicon Solution Inc. (ISSI), and a Chinese consortium of investors led by Summitview Capital jointly announced they have entered into a merger agreement under which the Consortium will acquire all of the outstanding shares of ISSI for $19.25 per share in cash. The deal values ISSI's equity at approximately $639.5 million. The Chinese consortium members also include eTown MemTek Ltd., Hua Capital and Huaqing Jiye.

The merger agreement contemplates that ISSI's operations in Taiwan will be restructured or some or all of ISSI's Taiwan operations will be sold as necessary to comply with the requirements of Taiwan laws and regulations.