SAN FRANCISCOŚMemory test and assembly services provider Walton Advanced Engineering Inc. paid an estimated 3.75 billion Japanese yen (about $50 million) to acquire 7,500 preferred shares of EBS Inc., a finance subsidiary of memory chip vendor Elpida Memory Inc., Elpida said Friday (Nov. 25).
Walton (Kaohsiung, Taiwan) and Elpida expect to complete the share transaction by mid-December, Eplida (Tokyo) said.
Elpida said the transaction would help bolster the company's financial strength amid DRAM market turmoil and yen appreciation. The company said it is looking at multiple opportunities to improve its financial position.
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