TAIPEI, Taiwan--As expected, Taiwan's United Microelectronics Corp. bought 23.23 million shares for a 4.46% stake in chip set maker Silicon Integrated Systems Corp., according to a report from Dow Jones
The deal, which was reported on Friday (see Dec. 27 story ), also calls for UMC to take three seats on SiS' board, the report said. The companies plan to gain shareholders' approval during a meeting scheduled for Jan. 14.
Recently, UMC and SiS of Taiwan formed an alliance that will include the cross-licensing of intellectual property and cooperation in process technology and production capacity. The companies also reached an agreement over a patent dispute.
Earlier this year, UMC had filed a civil suit against SiS for violation of the foundry's intellectual property rights.