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Korea M&A Corporation
Microtune to buy China's Auvitek 본문
Microtune Inc. said Friday it would buy Auvitek International Ltd., a privately owned China-based maker of semiconductors for HDTV, for $9 million in cash and stock.
After the announcement, Microtune shares fell 18 cents, or 8 percent, to $2.02 in early afternoon trading.
Microtune said it will pay $6.8 million in cash and one million shares of Microtune stock.
The acquisition is expected to close this month. Auvitek CEO Pete Birch will become vice president and general manager of the new Microtune Digital Television Business.
Microtune makes radio frequency solutions for consumer electronics and electronic systems for automobiles.
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