Monday, December 30, 2019

Kingpak and Tong Hsing to Merge

Digitimes: Two major Taiwan-based CMOS sensor packaging companies Tong Hsing and Kingpark have agreed to merge to turn them into one of the world's largest CIS packaging houses.

Taipei Times: Tong Hsing plans to acquire all of the shares in Kingpak after its board of directors approved a share-swap deal. The companies hope to complete the deal by June 30, 2020 and expect to pursue emerging opportunities in the smartphone, ADAS, IoT, the Internet of Vehicles, VR, and AR markets, the filing said.

The two companies have little overlap in customers and products, but they are highly complementary,” Tong Hsing president Heinz Ru said at a press conference at the Taiwan Stock Exchange. Kingpak is to become a wholly owned unit of Tong Hsing and be delisted from the Taipei Exchange when the merger is completed.

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