Longsys Acquires Majority Stake in Longforce.
MANews-(C)2009-2023
Chinese Shenzhen Longsys Electronics Co., Ltd.(301308.SZ) acquired a 70% equity stake in Powertech Technology (Suzhou) Ltd. to rebrand as Longforce (Suzhou) Ltd., the company said.
Terms of the transaction were not disclosed.
Powertech Technology (Sushou) Ltd. has been rebranded as Longforce (Suzhou) Ltd. and will be directly controlled by Longsys Electronics (Suzhou) Co., Ltd., a new wholly-owned subsidiary of Longsys.
The transaction has been officially completed and will be included in the consolidated statements of Longsys from now on.
Longforce, formerly known as Spansion, became a wholly-owned subsidiary of PTI in 2009. Its main services cover chip packaging, testing, and SMT, and its main products include flash memory chips, memory chips, and logic chips.
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