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29 September 2006


Epistar to acquire Epitech and Highlink

Following its merger with United Epitaxy Company (UEC) last year, Epistar Corporation is to acquire Epitech Technology Corporation, one of the largest suppliers of HB-LEDs, epiwafers and chips in Taiwan, and Highlink Technology Corporation, another maker of HB-LEDs, epiwafers, and chips.

Epistar, already the world’s largest supplier of AlGaInP LEDs in the world, says the merger will further solidify its position in that market, and make Epistar one of top five InGaN LED suppliers in the world. Epitech and Highlink together already have the largest capacity for InGaN blue and green LEDs in Taiwan.

According to the agreement, 3.08 shares of Epitech’s common stocks and 5.50 shares of Highlink’s common stocks will be converted into one share of Epistar’s common stocks, respectively. Completion is expected by March 1, 2007.

“Epistar is not only the No.1 HBLED manufacturer in Taiwan, but also a first-tier HBLED supplier in the global upstream LED industry” said Charles Chen, chairman of Epistar. “Through this merger, the new Epistar will be able to further enhance its international competitiveness.”

Epistar’s president, B.J. Lee, said: “With the integration of technology and patent portfolio, the new Epistar will have all the capabilities to be a major player in the global LED industry and offer integrated and high-quality products to meet the needs of customers worldwide.”

Launched in 2000, Epitech was already a major supplier HB AlGaInP and InGaN LED chips and epiwafers in Taiwan. Stan Hung, chairman of Epitech, said “Combining the production capacity of the three companies, the new Epistar will have complete resources to satisfy the fast-growing market demand including handset, small and medium size LCD backlight, Notebook PC, LCD monitor and TV, autos, outdoor displays and many new lighting fields.”

Highlink was also established in 2000, with a focus on InGaN LED chips. “The sales channels of Epistar and both Epitech and Highlink do not overlap with one another.” said by Semi Wang, chairman of Highlink, and “after the merger, the new Epistar will offer a variety of products to the existing customers as well as develop the cooperation with new customers by

Since the merger with UEC, Epistar has recorded a revenue of close to NT$3bn for H1, 2006 , up by more than 102% compared to the same period of 2005. Net profit is NT$ 617, up by over 370%.

Visit: http://www.epistar.com.tw