Pixelworks in $471.5M Deal to Sell 2.73% Stake in Shanghai Unit
Pixelworks agreed Monday to sell a 2.73% stake in its Shanghai semiconductor subsidiary for $471.5 million to a group of private equity investors based in China, said the video image processing company in an 8-K filing Thursday at the SEC.…
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The transaction shows there's “significant interest” in the Pixelworks technology and “the growing market opportunity” for the Shanghai subsidiary, said Pixelworks CEO Todd DeBonis. Pixelworks will continue to own 80.87% of the subsidiary after the transaction closes in September, said the company. It didn’t respond to questions about who will own the remaining 16.4%.