PDSTI Closes Purchase Of Montage

(RTTNews) - Montage Technology Group Ltd (MONT), a fabless provider of analog and mixed-signal semiconductor solutions addressing the home entertainment and cloud computing markets, Wednesday announced that Montage Technology Global Holdings, Ltd, an entity jointly formed by Shanghai Pudong Science and Technology Investment Co Ltd ("PDSTI") and China Electronics Investment Holdings Ltd ("CEC Investment"), has completed its acquisition of the company.

The merger values Montage's equity at approximately US$693 million, on a fully diluted basis. Montage's shareholders approved the transaction at a meeting of the Company's shareholders on July 31 and all of the other conditions to the completion of the transaction have been satisfied or waived.