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MegaChips will acquire Sitime, one of CID Fund III's portfolio companies, for US$200 million

Nov 7, 2014

The CID Group (“CID”) is pleased to announce that one of CID Greater China Venture Capital Fund III, L.P’s portfolio companies, SiTime Corporation, (“SiTime” or “the Company”) has signed a definitive agreement under which MegaChips Corporation (“MegaChips”) (Tokyo Stock Exchange: 6875), a leading fabless semiconductor company based in Japan, will acquire SiTime for US$200 million.

Spun out from Bosche and started the operation in 2005, SiTime is the industry leader in MEMS-based analog semiconductor solutions. The company’s MEMS-based oscillators and clock generators have revolutionary advantages of performance, resilience and cost to traditional quartz crystal timers. The Company has received numerous awards including R&D 100 Award - 100 Most Technologically Significant Products in 2005, Micro Nano 25 Award - One of the 25 Most Innovative Products of 2006 and Ranked #1 in MEMS Timing 2008-2014.

After the merge, SiTime will retain its name and operate as a wholly owned subsidiary of MegaChips. Combining MegaChips’s financial strength and global scale and SiTime’s cutting-edge MEMS timing technology, the strategic merger is expected to accelerate the adoption of MEMS timing solutions and further enhance SiTime’s leading position in the market. The deal is scheduled to close in this month pending regulatory approvals and customary closing conditions.

Since the investment in 2010, The CID Group has been working closely with SiTime in penetrating the Company’s client base in Greater China and establishing its strategic partnership. CID has invested US$8.2 million in SiTime representing 6% ownership of the Company. Based on the acquiring price of the agreement, the investment achieved approximately 1.5x multiple and 10% IRR.

For more than 16 years, CID has been focused on venture investments and industry integration opportunities in the Greater China market. CID has invested in 177 companies and achieved 88 exits.

Ooyala, a leading online video technology and service provider, reached a definitive agreement to be acquired by Telstra

Aug 14, 2014

The CID Group (“CID”) is pleased to announce that one of CID Greater China Venture Capital Fund III, L.P’s portfolio companies, Ooyala Inc. (“Ooyala” or “the Company”) has reached a definitive agreement to be acquired by Telstra Corporation Limited (“Telstra”) (ASX:TLS), Australia’s largest telecommunications and information services company.

The investment of US$ 270M will be used to acquire the shares from other existing shareholders, and will increase Telstra’s ownership in Ooyala from 23% (fully diluted) to 98%, in addition to the US$61 million previously invested over the past two years. The transaction is subject to customary closing conditions including the receipt of US regulatory approvals and is expected to be completed in the next 60 days.

Founded in 2007, Ooyala Inc. is a leading online video technology and services provider. The Company has over 500 customers including global media and enterprise customers such as Telstra, Warner Brothers, ESPN, The Washington Post and NBC Universal, etc., streaming over 1 billion videos to nearly 200 million unique viewers in almost 240 countries per month.

Ooyala’s cloud-based personalized video platform provides integrated publishing, analytics and monetization solutions, allowing content owners to expand audiences through deep insights that increase viewer engagement and drive revenues from videos. Telstra’s investment will accelerate Ooyala’s innovation leading position in enabling broadcasters, operators and media organizations to serve content anywhere anytime across any device.

Since the investment in 2010, The CID Group has been working closely with Ooyala in penetrating the Company’s client base in Greater China and establishing its strategic partnership. CID has invested US$12 million in Ooyala, representing 7% ownership of the Company. CID is proud to share Ooyala’s remarkable growth and achievements for the past few years.

For more than 16 years, CID has been focused on venture investments and industry integration opportunities in the Greater China market. CID has invested in 175 companies and achieved 85 exits.

TAHO, one of CID Fund III's portfolio companies, listed on the Emerging Board of Taiwan Gretai Securities Market

Aug 14, 2014

The CID Group (“CID”) is pleased to announce the successful listing of TAHO Pharmaceuticals, Ltd (“TAHO” or “the Company”), one of CID Greater China Venture Capital Fund III, L.P’s portfolio companies, on the Emerging Board of Taiwan Gretai Securities Market (Stock Code: 6467 TT) on August 14th, 2014. The listing price of the Company was NT$45 and closed at NT$47.89 on the first day of trading, with closing market cap recorded at NT2.5 billion (US$83 million).

Founded in 2010, TAHO develops specialty pharmaceutical products for the niche therapeutic markets. The company’s advanced Transepithelial Delivery System (TDS) transforms generic drugs into transdermal and transmucosal products with more timely, convenient and effective advantages than oral or injection drugs. The company has successfully developed and licensed patches for Antiemteic drugs, Alzheimer disease, Attention-Deficit Hyperactivity Disorder, etc., and has filed in multiple markets including Taiwan, US, Europe, Japan, and Malaysia.

TAHO is the second IPO of CID Greater China Venture Capital Fund III, L.P.’s biotech and pharmaceutical portfolio companies, following the listing of TWI pharmaceutical, Inc. on December 9th, 2013. The investment was based on CID's investment strategy to identify top-tier companies in the emerging sectors, and bolster the growth through CID’s resource integration and value-added platform.

Since the investment in 2012, CID has been actively supporting the development of TAHO’s business. CID’s senior partner served as the Chairman of the Company to provide hands-on guidance on the drug development and in-license roadmap. CID also helped the company in shaping its capital market fundraising strategy and achieved the IPO 4 years after the company’s establishment. CID invested US$6.78M, representing 26% ownership of the Company. Based on the closing price on August 14th, the investment achieved approximately 3.2x multiple and 104% IRR.

For more than 16 years, CID has been focused on venture investments and industry integration opportunities in the Greater China market. CID has invested in 175 companies and achieved 86 exits.

Amazing successfully transferred from Emerging Board to the Main Board of Taiwan Gretai Securities Market

Mar 13, 2014

The CID Group (“CID” or “the Firm”) is pleased to announce that Amazing Microelectronic Corp. (“Amazing” or “the Company”), a leading ESD (electrostatic discharge) solution provider, has successfully transferred from the Emerging Board to the Main Board of Taiwan Gretai Securities Market (“GTSM”) on March 11th , 2014. (Stock Code: 6411)

The IPO of the Company was more than 26 times oversubscribed thanks to the overwhelming demand from the institutional investors. On the first day of trading, the Company’s stock price hiked more than 40% above its listing price NTD35.5 and closed at NTD49.2. The stock price continued to rise strongly and closed at NTD52.9, or 49% increase within three trading days.

Established in 2006, Amazing is the first chip-based ESD solution IC design house in Taiwan. The Company provides ESD and EMI (ElectroMagnetic Interference) filter solutions for all kinds of electronic products, including mobile devices, PC/notebooks, TV and industrial computers, etc. With its strong R&D capabilities and over 250 utilizable patents in US, Taiwan and China, Amazing has established partnership with major global IT brand names. The Company posted revenues of NTD990 million and net profits of NT$107 million for the quarter ended September 30th, 2013.

Since the investment in 2007, The CID Group has been working closely with the Company in penetrating client base and accelerating sales growth, shaping the business strategy and initiating employee stock program for incentivizing and stabilizing Company’s R&D force. Also, CID helped Amazing in the IPO process such as enhancing its investor relationship strategy and introducing capital market networks. The Firm is proud to work hand in hand with the Company to achieve this remarkable milestone.

For more than 15 years, CID has been focused on investment in venture and industry integration opportunities in the Greater China market. CID has invested in 172 companies and achieved 83 exits. CID invested US$8.9M in Amazing via CID Greater China Venture Capital Fund II, representing 19% ownership of the Company. Based on the closing price on March 13th, the investment achieved approximately 2.0x multiple and 15% IRR.

Successful completion of the IPO of Digiwin, one of the portfolio companies of CID Greater China Venture Capital Fund II, on the ChiNext of Shenzhen Stock Exchange

Jan 29, 2014

The CID Group (“CID”) is delighted to announce the highly successful completion of the IPO of Digiwin Software Co.,LTD. (“Digiwin” or “the Company”), one of the portfolio companies of CID Greater China Venture Capital Fund II, on the ChiNext of Shenzhen Stock Exchange on January 27th , 2014. (Stock Code: 300378 CH)

Digiwin is one of the first 50 companies that received the listing approval from China’s SRC after the IPO freeze since late 2012 that blocked the listing pipelines of nearly 800 companies. More noteworthy, Digiwin is the first Taiwanese company listed in China’s stock exchange after the regulator re-opened the IPO market. The company offered 30 million shares targeting to raise RMB615M and received over RMB 16.6B subscription orders during the offering period. On the first day of trading, the stock price hit the maximum first-day price range and closed at $29.91, 44% above its IPO price, $20.77. The stock price continued to hike subsequently and closed at $34.09, marking a 64% increase in three trading days.

Founded in Taiwan in 1982, the Company provides enterprise resource planning (ERP) solutions and established the dominant position in the market. In 2001, Data Systems Consulting Co., Ltd. (”DSC”), the former holding company of Digiwin, formed a strategic partnership with Digital China, the largest integration IT solution provider in China, to extend DSC’s 30-year enterprise service excellence and capitalize the giant opportunities driven by the rapid growth of small to medium size enterprises in China. Today, the Company is among the top 3 ERP solutions providers in China and has implemented its systems in more than 80 industries. The Company posted net incomes of RMB 47.8 million and revenues of RMB 726 million for the cumulative three quarters of 2013.

CID invested in DSC in 2007 as the strategic shareholder. CID utilized its extensive industry resources and expertise to assist DSC’s privatization from Taiwan stock exchange, restructuring the holding company as Digiwin and developing its expansion roadmap for China market. CID has been an active partner of Digiwin for the past years in overcoming the regulatory complexity of cross-strait markets and completing the corporate restructuring for re-listing in China. CID is proud to work hand-in-hand with the Company to achieve this remarkable milestone demonstrating a role model of cross-strait industry integration.

For more than one and a half decades, CID has been focused on venture investments and industry integration opportunities in the Greater China market. CID has invested in 171 companies and achieved 83 exits. Digiwin is CID’s 4th IPO within the past two months. CID invested US$26.6M, representing 21.85% ownership of the Company. Based on the closing price on January 29th, the investment achieved approximately 4.0x multiple and 24% IRR.