Tsinghua Closes $1.7 Bln. Acquisition Of Spreadtrum - Quick Facts

(RTTNews) - Tsinghua Unigroup Ltd., a unit of Tsinghua Holdings Co., Ltd., a solely state-owned limited liability corporation funded by Tsinghua University in China, said Monday it has closed its $1.7 billion acquisition of Spreadtrum Communications Inc. (SPRD), a fabless semiconductor provider in China.

"The completion of the Merger is an important milestone for Spreadtrum and the semiconductor industry in China," said Jinghong Xu, Chairman of Tsinghua Holdings Co., Ltd. Xu continued, "Spreadtrum's joining Tsinghua will significantly enhance Tsinghua's position in the communications, semiconductor and technology industries."

The company also announced that it has requested that trading of its ADSs on the Nasdaq Global Select Market be suspended.

Tsinghua Unigroup Ltd. is a unit of Tsinghua Holdings Co., Ltd., a solely state-owned limited liability corporation funded by Tsinghua University in China.