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Magnachip Semiconductor announced on Friday that it agreed to be acquired by private equity investment company Wise Road Capital Ltd. for $29 per share, or approximately $1.4 billion. Magnachip Semiconductor's closing price on Thursday was US$20.41, which represents a premium of about 42%.


Magnachip Semiconductor stated that the transaction expected to be completed in the second half of this year is fully supported by equity commitments and is not subject to any financing conditions. After the transaction is completed, the company's management team and employees are expected to continue to hold their positions. After the transaction, the company will still be headquartered in South Korea.

It is reported that Magnachip Semiconductor (formerly Hynix Semiconductor's system integrated circuit business) has world-class technical capabilities and has 5 wafer fabs in South Korea. Magnachip Semiconductor develops, produces and distributes system integrated circuit chips, mainly focusing on display driver integrated circuits, CMOS (Complementary Metal Oxide Semiconductor) image sensors and application solution processors, and operating foundry business. Magnachip Semiconductor has world-class production capacity and a broad portfolio of thousands of patents.

LG Semiconductor, established in 1979, is the parent body of Magnachip Semiconductor. It was separated from Hynix's non-semiconductor memory business unit in 2004 and set sail as Magnachip Semiconductor.

Wise Road Capital Ltd. is a global private equity fund management company under the Zhongguancun Rongxin Financial Information Industry Alliance. It has participated in or led many overseas project investments many times, including Anshi Semiconductor and Lingsheng Technology , Hixih Communications, Rui Sen sensors, etc.