Unispledour Corp, a Shenzhen-listed firm owned by Tsinghua University, said yesterday that it will form a US$158 million storage server and cloud-computing equipment joint venture with US-based Western Digital.
Unisplendour, or UNIS, plans to invest US$80.6 million for 51 per cent of the new venture while Western Digital will inject US$77.4 million for the remaining 49 per cent. The venture will start operations in the second quarter after being approved by industry regulators, according to the company's statement posted on the Shenzhen Stock Exchange website.
"The JV will help us establish complete services and technology for cloud computing, Big Data and mobile Internet," UNIS said in the statement.
The latest investment marked another move for Tsinghua University-owned firms to expand into the global storage and chip market by acquiring chip designers Spreadtrum Communications and RDA Microelectronics, and buying a tUS$3.8 billion stake in Western Digital.
UNIS rose 1.33 per cent to 118.78 yuan (US$18.66), compared with a 0.38 per cent dip of Shenzhen's benchmark index.
China has recently formed a national semiconductor fund and is moving aggressively to establish homegrown chip and storage giants through mergers and acquisitions.
Source: http://www.shanghaidaily.com/business/it/JV-eyes-to-offer-complete-tech-services/shdaily.shtml
Source: http://www.shanghaidaily.com/business/it/JV-eyes-to-offer-complete-tech-services/shdaily.shtml
