Inventec Acquires 4.9% Stake in Huga Optotech

Taiwan’s Inventec Corp., the world’s fourth-largest notebook PC maker, has spent NT$540 million (US$16.61 million at US$1: NT$32.5) to buy a 4.9% stake in the island’s leading LED maker Huga Optotech Inc., according to Taiwan Economic News.

To raise capital for capacity expansion, Huga has issued 18 million new shares which are valued at NT$540 million, according to the report, and all have been procured by Inventec. Everlight Electronics Co., Ltd, Taiwan’s largest LED packager, is also one of Huga’s shareholders, who spent NT$500 million on convertible bonds issued by the latter.

Optimistic about the market of LED backlight in 2010, Huga has been actively raising capital to ramp up its LED capacity. The company plans to add 39 new sets of MOCVD equipment to expand its LED output to 2 billion units a month, according to the report. In addition, Huga has established a joint venture with Seoul Semiconductor of South Korea as part of its efforts to penetrate the Korean market for LED chips.

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