To build a local storage industry chain, Longsys intends to buy 70% equity of PTI Suzhou

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Jun 30, 2023, 09:20 ET

SHENZHEN, China, June 30, 2023 /PRNewswire/ -- On June 27, 2023, Shenzhen Longsys Electronics Co., Ltd. (hereinafter referred to as "Longsys") and Powertech Technology Inc. (hereinafter referred to as "PTI") reached an agreement that Longsys would acquire 70% equity of Powertech Technology (Suzhou) Limited (hereinafter referred to as "PTI Suzhou"), a wholly-owned subsidiary of PTI, through its wholly-owned subsidiary.

Founded in May 1997, PTI, a listed company in Taiwan (stock code: 6239.TW), is the world's largest third-party memory chip packaging and testing service provider with globally leading memory chip packaging and testing processes and technologies. PTI Suzhou, formerly known as Advanced Micro Devices and Spansion, became a wholly-owned subsidiary of PTI in 2009. Its main services cover chip packaging, testing, and SMT, and its main products include flash memory chips, memory chips, and logic chips.

Since its establishment, Longsys has been focusing on the comprehensive application of semiconductor storage. After spending more than 20 years in R&D, innovation, and market growth for storage products, Longsys has forged its renowned industrial storage brand FORESEE and its international high-end consumer storage brand Lexar, and has gained a significant market influence and popularity in domestic and overseas markets. In the field of memory chip design, Longsys has successfully launched its self-developed SLC NAND flash chip. In the fields of storage, packaging, and testing, Longsys is also capable of design simulation and process development.

By following the development trend of the storage industry, Longsys actively strengthens cooperation with leading enterprises in the global storage industry chain, and promotes the integration and layout of resources in the upstream and downstream of the storage industry chain. After the acquisition, Longsys will build a strategic partnership with PTI based on PTI Suzhou, jointly increase investment in storage packaging and testing technologies, and further enhance Longsys's innovation capability, product quality, and competitiveness in the storage industry. PTI Suzhou will continue to provide outstanding packaging and testing services for existing customers and empower the innovation of the domestic storage industry chain.

Through the acquisition, Longsys will further enhance its packaging and testing capabilities of memory chips, improve the resource layout in the storage industrial chain, and strengthen business cooperation relationship with storage wafer manufacturers. With regard to aspects such as reducing production costs and promptly responding to customer needs, Longsys will work together with PTI Suzhou to enhance its core competitiveness and market influence, realize its strategic company transformation from a storage technology brand to a semiconductor storage brand, improve long-term profitability, and boost shareholder returns.

SOURCE Longsys Electronics